Sri Lanka Met 33 IMF Commitments and failed 8 by end-June

Abstract

Sri Lanka had verifiably met 33 of the trackable programme commitments of the International Monetary Fund (IMF) programme as at the end of June 2023 but had failed eight. Growing number of failed commitments, the number of unfulfilled commitments doubled from four (including one partially met) in May, to eight in June 2023. These include, obtaining cabinet approval for the restructuring plan of key State-Owned Enterprises (SOEs), enacting new anti-corruption legislation, publishing the annual reports of all 52 major SOEs for 2022, and preparing a plan to gradually eliminate import restrictions. Sri Lanka is mostly failing in two areas: the passage of legislation, and information dissemination.