COLOMBO, Sri Lanka — Sri Lanka and the International Monetary Fund on Thursday reached a preliminary agreement on a bailout package as the bankrupt island nation tries to rebuild trust with lenders and find a way out of a crippling economic crisis that toppled its president.The deal, which still requires final approval from the I.M.F.’s executive board, would extend an emergency loan worth $2.9 billion in return for an overhaul of the country’s economy to reduce its fiscal deficits. The assistance would also be conditioned on engagement by Sri Lanka with creditors like Japan, China and India to restructure its huge foreign debt, on which the country defaulted this year.“Financing assurances to restore debt sustainability from Sri Lanka’s official creditors and making a good-faith effort to reach a collaborative agreement with pr …
