Sri Lanka, May 15 -- The International Monetary Fund (IMF) has confirmed that Sri Lanka's combined Fifth and Sixth reviews under the Extended Fund Facility are expected to be presented to its Executive Board in the coming weeks, with approval subject to completion of key prior actions.

Responding to questions at a press briefing on Sri Lanka's programme, IMF Communications Director Julie Kozack said the staff-level agreement was reached on April 9 between IMF teams and Sri Lankan authorities. She noted that Board approval would unlock around US$700 million in financing for the country.

However, questions were raised over whether current government fuel subsidies, including a Rs. 100 per litre diesel subsidy, align with the IMF's cost re...