Sri Lanka, March 24 -- A Staff Level Agreement (SLA) on economic policies has been reached between the International Monetary Fund (IMF) and the Sri Lankan Government, concluding the second review of the IMF program. Following the review of the Executive Board of IMF, Sri Lanka will receive a financial facility of about US$ 337 million, under which the total amount of financial assistance provided by the IMF will be about US$ 1 billion.

Peter Breuer, the Head of the IMF Senior Mission for Sri Lanka, said that the results achieved by the reform program implemented by Sri Lanka are commendable and that successful progress is being made. Inflation has fallen at a faster rate than expected, and the action taken by the Sri Lankan Government h...