Sri Lanka, Oct. 6 -- Sri Lanka yesterday reached a staff-level agreement with the International Monetary Fund (IMF) on the seventh review of its bailout programme, moving closer to a further US $ 345 million disbursement.

The final approval is dependent on a programme-consistent Budget 2027 and a review of financing assurances.

The agreement follows the IMF mission's September 10-23 visit and subsequent virtual discussions with the Sri Lankan officials.

The team in September left the country without a finalisation but affirmed discussion would proceed towards reaching agreement on the parameters and policies needed to conclude the seventh review.

The IMF also concluded discussions for the 2026 Article IV consultation, which assesse...