Sri Lanka falls short on 19 transparency and legislative commitments to IMF programme - report
May 18, 2024 05:48 pm
Sri Lanka has not met 30% of its due commitments to the IMF programme by the end of April 2024, which translates to a total of 19 unfulfilled obligations, according to a report by Verité Research.
The report published on PublicFinance.lk, a platform for public finance-related information in Sri Lanka run by Verité Research, revealed that the majority of these unmet commitments pertain to enhancing transparency and enacting legislation.
The summary of commitments that are not yet due include publishing implementation plans for the Anti-Corruption Act, implementation of the amendments to the Banking Act, obtaining Cabinet approval of a strategy to build a VAT (Value Added Tax) refund system and achieving a full repeal of SVAT, with timeline, intermediate steps and ensuring that starting from January 2024, cash transfers under Samurdhi will cease, among others.
Meanwhile, the report indicates that 53% of the 19 unmet commitments pertain to publishing requirements, while 21% involve the passing of laws.
