Sri Lanka has not fulfilled 30% of its commitments under the IMF programme by the end of April 2024, amounting to 19 unfulfilled obligations, according to a report by Verité Research.
The report, published on PublicFinance.lk, a platform for public finance-related information managed 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 includes:
Publishing implementation plans for the Anti-Corruption Act
Implementing amendments to the Banking Act
Obtaining Cabinet approval for a strategy to build a VAT (Value Added Tax) refund system and fully repealing SVAT, with a timeline and intermediate steps
Ensuring that, starting from January 2024, cash transfers under the Samurdhi program will cease
The report indicates that 53% of the 19 unmet commitments involve publishing requirements, while 21% pertain to the passing of laws.
