Sri Lanka's ongoing International Monetary Fund (IMF) programme has seen an improvement in transparency, according to Verité Research's latest update of the 'IMF Tracker'.
The improvement came after several supporting documents were published alongside the 2024 budget in November.
These supporting documents have shed light on the progress of six commitments that were previously classified as 'unknown'.
Out of these commitments, five have now been reclassified as 'met', indicating that they have been successfully fulfilled.
However, one commitment, namely the tax revenue target, has been classified as 'not met'. The 'IMF Tracker' report reveals that out of the 73 commitments that were due by the end of November, 12 have not been met, 15 remain unknown, and 46 have been classified as met.
This means that only 63% of the commitments due by the end of November have been verifiably completed. While this shows some progress, Sri Lanka's overall performance is still considered less than impressive.
The IMF board is set to vote on the disbursement of the programme's second tranche, which amounts to approximately USD 330 million. Originally expected in September, the disbursement has faced delays. The board will make its decision tomorrow, on 12 December.
Verité Research's 'IMF Tracker' will be updated to reflect any revised commitments and timeframes that may emerge from the request for board approval to disburse the second tranche of funds
