Sri Lanka to receive first tranche from IMF in next two days

A general view of a main market is seen, after The International Monetary Fund's executive board approved a $3 billion, in Colombo, Sri Lanka March 21, 2023. REUTERS/Dinuka Liyanawatte

COLOMBO (Reuters) - Sri Lanka will receive the first tranche of about $330 million from the International Monetary Fund in the next two days, and, going forward, disbursements would be tied to reviews that take place every six months, an IMF official said on Tuesday.

The IMF on Monday said its executive board approved a nearly $3 billion bailout for Sri Lanka, and the country's presidency said the program will enable it to access up to $7 billion in overall funding.