Sri Lanka, April 9 -- The International Monetary Fund (IMF) and authorities of Sri Lanka have reached a staff-level agreement on economic policies to conclude the combined Fifth and Sixth Reviews under the Extended Fund Facility (EFF).

Following approval by the IMF Executive Board, Sri Lanka will gain access to approximately US$700 million in financing.

The IMF noted that ongoing economic reforms implemented by Sri Lankan authorities have supported the country's recovery, with foreign reserves increasing and both real GDP growth and revenue mobilization exceeding expectations.

However, the country remains significantly exposed to external risks, particularly the impact of the Middle East conflict, and continues recovery efforts followi...