Sri Lanka, April 2 -- The World Bank raised its forecast for Sri Lanka's economy on Tuesday, projecting growth of 2.2% for 2024 as the crisis-hit nation makes a faster-than-expected recovery from its worst financial crisis in decades.

Sri Lanka secured a $2.9 billion bailout from the International Monetary Fund (IMF) in March last year, helping it temper inflation, increase state revenues, and rebuild foreign exchange reserves after its economy crumpled in 2022.

The IMF programme helped Sri Lanka's economy stabilise, and it is expected to return to growth this year after contracting 2.3% in 2023.

The World Bank, in its latest report on South Asia, raised its growth forecast for Sri Lanka by 50 basis points. Real GDP growth was also exp...