IMF approves $1.5 bln loan to back Sri Lanka's economic reforms

COLOMBO, June 4 (Reuters) - The International Monetary Fund's (IMF) executive board has approved a three-year $1.5 billion loan to support Sri Lanka's economic reform agenda, the global lender said on Saturday.

"The arrangement aims to meet balance of payments needs arising from a deteriorating external environment and pressures that may persist until macroeconomic policies can be adjusted," the IMF said in a statement.