Sri Lanka's $12.5 billion bondholder debt rework has received support from bilateral creditors and the International Monetary Fund, the finance ministry said on Friday, a huge boost to the island nation's fragile economy.

Sri Lanka’s new president stuck to his campaign promises of reducing taxes and providing other relief to citizens in his first meeting with officials from International Monetary Fund since taking office.

Sri Lanka needs to complete the third review of its IMF programme in order to receive about $337 million in funds and support the finalisation of a $12.5 billion debt restructuring with bondholders. (Reporting by Uditha Jayasinghe, writing by Pushkala Aripaka; Editing by Hugh Lawson)

Sri Lanka's new President Anura Kumara Dissanayake said on Wednesday that he plans to begin negotiations with the International Monetary Fund (IMF) immediately to take forward the country's $2.9 billion bailout programme.

Sri Lanka's painful austerity measures were "bearing fruit" and must be sustained, the International Monetary Fund said Friday as the country's new president sought changes to its $2.9 billion bailout.

COLOMBO (Reuters) - Sri Lanka will have detailed talks with the IMF on the framework of a $2.9 billion bailout programme on the sidelines of the lender's annual meetings in Washington later this month, the country's cabinet spokesperson said on Tuesday.