Sri Lanka, April 9 -- Sri Lanka could access around $700 million in fresh financing from the International Monetary Fund (IMF) after the fund's Executive Board approves the 5th and 6th reviews of its Extended Fund Facility (EFF) programme, the IMF mission said on Tuesday.

The approval, however, is contingent on restoring cost-recovery pricing for electricity and fuel while protecting vulnerable households, as well as completing a review of financing assurances.

With this tranche, total disbursements under the $3 billion EFF arrangement will reach roughly $2.4 billion.

Speaking in Colombo, IMF Senior Mission Chief Evan Papageorgiou briefed the media on key aspects of the programme and the Sri Lankan economy.

"Ensuring that electricity ...