Sri Lanka is falling short on key governance commitments under the International Monetary Fund’s (IMF) aid program, jeopardizing its economic recovery, according to the Verity Research Institute. Despite this, the IMF’s board is expected to approve the third loan installment tomorrow.
The institute reports that Sri Lanka has fulfilled only 32 of the 63 commitments due by the end of May. The country has failed to meet 16 commitments, and there is insufficient information to assess the progress of another 15.
Of the 16 unmet commitments, 7 pertain to financial management, 6 to financial transparency, and 3 to anti-corruption measures, highlighting significant gaps in governance that are crucial for economic stability.