Sri Lanka, March 5 -- Despite positive developments and recovery expected this year, Sri Lanka's economy is still vulnerable, and it is critical to sustain the reform momentum for long-term growth, a top International Monetary Fund (IMF) official said yesterday.

Addressing a virtual press conference, Senior Mission Chief for Sri Lanka Peter Breuer said that the IMF Executive Board approved the third review under the 48-month Extended Fund Facility Arrangement with Sri Lanka.

It provides the country with immediate access to US $ 334 million to support its economic policies and reforms and brings the total IMF financial support disbursed so far to about U.S. $ 1.3 billion.

"The IMF continues to support Sri Lanka's efforts to restore and ...