The International Monetary Fund announced Monday that it had approved the latest tranche of financing for Ivory Coast, worth more than $570 million, following a staff visit to the West African country.

The announcement follows the successful completion of the second semi-annual review of Ivory Coast's economic reform program, and the first review of its new climate change reform program, the IMF said in a statement.

The funds, worth some $574 million, still require approval by the IMF's executive board.

"The authorities and staff agreed on key policy parameters including further revenue-based fiscal consolidation to reduce the fiscal deficit to 3 percent of GDP by 2025," IMF mission Chief Olaf Unteroberdoerster said in a statement.

Other priorities included "structural reforms which will continue to further strengthen domestic revenue mobilization, public financial management, and governance," he added.

Unteroberdoerster said the Ivory Coast economy remained resilient "despite a difficult external environment," adding that growth remained robust last year, while inflation fell.

The IMF predicts that the economy, which has seen more than a decade of robust growth, will expand by 6.6 percent this year, making it one of the most dynamic in the region.

But the country remains dependent on external aid, including the IMF.