The International Monetary Fund reached a staff-level agreement with Sri Lanka, paving the way to unlock approximately $700 million in financing and bringing total disbursements under the program to about $2.4 billion, Reuters reported on April 9. The staff-level agreement is still subject to approval by the IMF's executive board, expected by early June.

The agreement follows the conclusion of a combined fifth and sixth review of Sri Lanka's $3 billion IMF program, conducted jointly after earlier delays.