Free and Open Access to
Public Finance Data and Analysis
30% of IMF programme commitments due in April not met

By the end of April 2024, Sri Lanka has not met 30% of its due commitments, which translates to a total of 19 unfulfilled obligations. The majority of these unmet commitments pertain to enhancing transparency and enacting legislation. The summary of commitments that are not yet due is shown in the table below:

Transparency/Publishing Requirements

Enacting of legislation


Publish semi-annually public procurement contracts and estimation of tax exemptions

Introduce automatic indexation of excises to inflation

Obtain Cabinet approval of a strategy to build a VAT refund system and achieve a full repeal of SVAT, with timeline and intermediate steps

Publish direct costs of tax incentives granted via the SDP and BOI act

Submission of the Public Finance management law to parliament

Obtain Cabinet approval of a reduction in the limit on government guarantees to 7.5 percent of GDP

Publication of a government action plan for implementing recommendations in the Governance Diagnostic report

Enact legislation on assets recovery in compliance with the UNCAC

Complete implementation of ITMIS

Ensure that the annual reports for 2022 of all 52 major SOEs are published

Make legislative change to set up a debt management agency

Social spending to 0.6 percent of GDP (LKR 187 Bn) by Dec 2023

Publish audited financial statements of all but five SOEs


Ensure that starting from January 2024, cash transfers under Samurdhi will cease

Publish quarterly debt bulletins



Publishing implementation plans for the Anti-Corruption Act



Introduction, tracking and reporting quarterly KPIs of tax compliance



Reporting of monthly cash flows by the Department of State Accounts



Implementation of the amendments to the Banking Act




Post a Comment