The International Monetary Fund has reached a staff-level agreement with Sri Lanka on the seventh review of its Extended Fund Facility, paving the way for financing of about $345 million as the island nation continues its recovery from its worst economic crisis in decades.
The agreement is subject to approval by the IMF's executive board. It also hinges on Sri Lanka's 2027 budget, which is due to be presented in parliament next month, being in line with the terms of the programme, as well as the completion of a review of financing assurances.
