Sri Lanka's best kept secret

Abstract

The lack of fiscal transparency is a key factor that contributed to the present crisis and loss of credibility of the government, both at home and abroad. Several commitments made by the government in its agreement with the International Monetary Fund (IMF), and several recommendations made by the IMF in its latest governance diagnostic on Sri Lanka, highlight the importance of improving fiscal transparency.

The budget speech for 2024 will be made on 13 November. Greater transparency and accountability about the progress of budget proposals could help to address the concerns noted by the IMF, and in turn improve Sri Lanka’s chances of a sustainable economic recovery.