Budget 2024 enhances transparency in SL’s IMF programme progress;Verité Research

The transparency of Sri Lanka’s ongoing International Monetary Fund (IMF) programme saw notable improvement in November, marked by the release of various supporting documents alongside the unveiling of the 2024 budget. According to a recent update from Verité Research’s ‘IMF Tracker’.   

These documents have played a pivotal role in shedding light on the progress of six commitments, previously categorized as ‘unknown.’   The supporting documents have effectively detailed the advancements in five commitments, now reclassified as ‘met,’ while one commitment, specifically the tax revenue target, has been marked as ‘not met.’ Among the 73 commitments slated for completion by the end of November, 46 are classified as ‘met,’ 15 as ‘unknown,’ and 12 as ‘not met.’ Consequently, 63% of the commitments due by the end of November have been conclusively fulfilled, although the overall performance of Sri Lanka in meeting these commitments remains less than stellar.  

The crucial next step in the IMF programme will be decided on December 12, as the IMF board is set to vote on the disbursement of the program’s second tranche, amounting to approximately USD 330 million. Originally anticipated in September, this second tranche will undergo scrutiny, and Verité Research’s ‘IMF Tracker’ will be updated to reflect any revised commitments and timeframes that may emerge from the board’s decision.  

The IMF Tracker stands as the sole platform actively monitoring the 100 commitments outlined at the initiation of Sri Lanka’s 17th IMF program. Accessible to the public on Verité Research’s manthri.lk platform at [https://manthri.lk/en/imf_tracker](https://manthri.lk/en/imf_tracker), it provides a comprehensive overview of Sri Lanka’s progress in meeting its IMF commitments.