The International Monetary Fund has approved the second review of its Extended Fund Facility for Sri Lanka, Foreign Minister Ali Sabry said.

Foreign Minister Sabry, taking to ‘X’, said that the IMF Board’s approval is a testament to the Sri Lankan government’s dedication to driving forward economic reforms.

“IMF has approved the 2nd review of Sri Lanka’s program. This achievement is a testament to our dedication to driving forward economic reforms and securing a prosperous future for all Sri Lankans. Onward and upward!” he said.

In March this year, the IMF staff and the Sri Lankan authorities reached a staff-level agreement on economic policies to conclude the second review of the 4-year EFF-supported program and the 2024 Article IV Consultation.

The approval by the IMF Management and the IMF Executive Board will unlock access to approximately US$330 million in financing.