Sri Lanka, July 6 -- Sri Lanka has finally got approval for the delayed fourth review of the International Monetary Fund's (IMF) US$3 billion bailout package. Sri Lanka had to raise the electricity tariffs for the approval and the IMF Executive Board last week completed the Fourth Review, unlocking a new tranche of SDR 254 million (approximately US$350 million), bringing the total disbursement to US$1.74 billion.

According to the IMF, Sri Lanka's performance under the program has been "generally strong," despite some implementation risks and data reporting lapses.

Notably, Sri Lanka fulfilled prior actions including restoring cost-recovery electricity pricing and operationalising automatic tariff adjustments. These reforms aim to reduce...