On approval by the IMF Executive Board, the South Asian country will have access to about $344 million in financing, the IMF said in a statement on Friday.

The agreement follows discussions over the country’s continuation on the review, after IMF staff members visited amid global trade turmoil triggered by the United States.

Sri Lanka, which plunged into a financial crisis due to a record shortage of dollars three years ago, has recovered strongly since securing a bailout in the form of a four-year Extended Fund Facility from the global lender in March 2023.

---Reuters---