The International Monetary Fund says Sri Lanka’s economy has been set on a more sustainable footing by the government’s tough new monetary and fiscal policies. The Honk Kong Standard reported that the global lender is likely to approve funding of around US$420 million, the last tranche of a US$2.6 billion loan to Sri Lanka, after an IMF executive committee meeting in Washington later today. Koshy Mathai, Sri Lanka’s IMF resident representative told a forum in Colombo late yesterday, “While acknowledging the economy is in pain…I would say you all should be jumping up and down with joy that the right policies have been implemented and the fundamentals of the economy have been set on a more sustainable footing”.