The Washington-based lender approved a nearly US $3 billion bailout for crisis-hit Sri Lanka in March. The Asian island is struggling with its worst financial crisis in over seven decades, triggered by a severe shortage of foreign exchange.

The first review will take place from September 14 through the 27 and considers the programme’s performance until end-June, and if approved by both the staff and the executive board, would allow a disbursement of around $338 million.

The previous IMF’s staff mission to the country was in May, when the Fund’s authorities said that “the overall macroeconomic and policy environment remains challenging.”