Sri Lanka, May 28 -- The Executive Board of the International Monetary Fund (IMF) has approved the 5th and 6th reviews of Sri Lanka's Extended Fund Facility programme.

Accordingly, Sri Lanka is set to receive around US$695 million. The total disbursement under the programme so far amounts to US$2.4 billion.

However, the IMF has noted that certain programme conditions have not been fully met.

It pointed out that Sri Lanka has failed to meet continuous performance criteria related to external payment arrears and the tightening or avoidance of new import restrictions.

As prior actions, the IMF required the issuance of Cabinet decisions on budgetary measures related to fuel, electricity, fertiliser subsidies, and the Aswesuma welfare prog...