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Sri Lanka met 46 IMF commitments and failed 12 by end-Nov
The transparency in Sri Lanka’s ongoing International Monetary Fund (IMF) programme improved in November following the publication of several supporting documents with the 2024 budget, according to the latest update of Verité Research’s ‘IMF Tracker’. The supporting documents have provided information on the progress of six commitments which were previously classified as ‘unknown’. Five of the commitments have now been reclassified as ‘met’ and one – the tax revenue target – as 'not met’. Of the 73 commitments due by end-November, 12 are ‘not met’, 15 are classified as ‘unknown’, and 46 as ‘met’. Therefore, 63% of the commitments due by end November have been verifiably completed. This means, however, that Sri Lanka’s overall performance remains less than impressive.
Featured Insight
Sri Lanka met 46 IMF commitments and failed 12 by end-Nov
The transparency in Sri Lanka’s ongoing International Monetary Fund (IMF) programme improved in November following the publication of several supporting documents with the 2024 budget, according to the latest update of Verité Research’s ‘IMF Tracker’. The supporting documents have provided information on the progress of six commitments which were previously classified as ‘unknown’. Five of the commitments have now been reclassified as ‘met’ and one – the tax revenue target – as 'not met’. Of the 73 commitments due by end-November, 12 are ‘not met’, 15 are classified as ‘unknown’, and 46 as ‘met’. Therefore, 63% of the commitments due by end November have been verifiably completed. This means, however, that Sri Lanka’s overall performance remains less than impressive.
Featured Insight
Sri Lanka met 46 IMF commitments and failed 12 by end-Nov
The transparency in Sri Lanka’s ongoing International Monetary Fund (IMF) programme improved in November following the publication of several supporting documents with the 2024 budget, according to the latest update of Verité Research’s ‘IMF Tracker’. The supporting documents have provided information on the progress of six commitments which were previously classified as ‘unknown’. Five of the commitments have now been reclassified as ‘met’ and one – the tax revenue target – as 'not met’. Of the 73 commitments due by end-November, 12 are ‘not met’, 15 are classified as ‘unknown’, and 46 as ‘met’. Therefore, 63% of the commitments due by end November have been verifiably completed. This means, however, that Sri Lanka’s overall performance remains less than impressive.
Featured Insight
Sri Lanka met 46 IMF commitments and failed 12 by end-Nov
The transparency in Sri Lanka’s ongoing International Monetary Fund (IMF) programme improved in November following the publication of several supporting documents with the 2024 budget, according to the latest update of Verité Research’s ‘IMF Tracker’. The supporting documents have provided information on the progress of six commitments which were previously classified as ‘unknown’. Five of the commitments have now been reclassified as ‘met’ and one – the tax revenue target – as 'not met’. Of the 73 commitments due by end-November, 12 are ‘not met’, 15 are classified as ‘unknown’, and 46 as ‘met’. Therefore, 63% of the commitments due by end November have been verifiably completed. This means, however, that Sri Lanka’s overall performance remains less than impressive.
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Collection of information for the determination of annual imprest limit to each Ministry/Department for the payments under the budgetary provisions provided in the Appropriation Act for the Financial Year - 2021
A circular distributed by the Treasury Operations Department to relevant persons/institutions. Examples of areas covered include Revenue Estimates, Arrears of Revenue, Payments to be made by various institutions/Ministries/Departments.
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Appropriation Act, No. 6 of 2019
AN ACT TO PROVIDE FOR THE SERVICE OF THE FINANCIAL YEAR 2019 ; TO AUTHORIZE THE RAISING OF LOANS IN OR OUTSIDE SRILANKA, FOR THE PURPOSE OF SUCH SERVICE; TO MAKE FINANCIAL PROVISION IN RESPECT OF CERTAIN ACTIVITIES OF THEGOVERNMENT DURING THAT FINANCIAL YEAR; TO ENABLE THE PAYMENT BY WAY OF ADVANCES OUT OF THE CONSOLIDATEDFUND OR ANY OTHER FUND OR MONEYS OF, OR AT THE DISPOSAL OF THEGOVERNMENT, OF MONEYS REQUIRED DURING THAT FINANCIAL YEAR FOR EXPENDITURE ON SUCH ACTIVITIES; TO PROVIDE FOR THE REFUND OF SUCH MONEYS TO THECONSOLIDATED FUND AND TO MAKE PROVISION FOR MATTERS CONNECTED THEREWITH OR INCIDENTAL THERETO.
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Appropriation Act, No. 6 of 2020
AN ACT TO PROVIDE FOR THE SERVICE OF THE FINANCIAL YEAR 2020; TO AUTHORIZE THE RAISING OF LOANS IN OR OUTSIDESRILANKA, FOR THE PURPOSE OF SUCH SERVICE; TO MAKE FINANCIAL PROVISION IN RESPECT OF CERTAIN ACTIVITIES OF THEGOVERNMENT DURING THAT FINANCIAL YEAR; TO ENABLE THE PAYMENT BY WAY OF ADVANCES OUT OF THE CONSOLIDATEDFUND OR ANY OTHER FUND OR MONEYS OF, OR AT THE DISPOSAL OF THEGOVERNMENT, OF MONEYS REQUIRED DURING THAT FINANCIAL YEAR FOR EXPENDITURE ON SUCH ACTIVITIES; TO PROVIDE FOR THE REFUND OF SUCH MONEYS TO THECONSOLIDATED FUND AND TO MAKE PROVISION FOR MATTERS CONNECTED THEREWITH OR INCIDENTAL THERETO.
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Appropriation Act, No. 52 Of 2011
AN ACT TO PROVIDE FOR THE SERVICE OF THE FINANCIAL YEAR 2006, TO AUTHORISE THE RAISING OF LOANS IN OR OUTSIDE SRI LANKA, FOR THE PURPOSE OF SUCH SERVICE ; TO MAKE FINANCIAL PROVISION IN RESPECT OF CERTAIN ACTIVITIES OF THE GOVERNMENT DURING THAT FINANCIAL YEAR ; TO ENABLE THE PAYMENT, BY WAY OF ADVANCES OUT OF THE CONSOLIDATED FUND OR ANY OTHER FUND OR MONEYS OF, OR AT THE DISPOSAL OF, THE GOVERNMENT, OF MONEYS REQUIRED DURING THAT FINANCIAL YEAR FOR EXPENDITURE ON SUCH ACTIVITIES ; TO PROVIDE FOR THE REFUND OF SUCH MONEYS TO THE CONSOLIDATED FUND ; AND TO MAKE PROVISION FOR MATTERS CONNECTED THEREWITH OR INCIDENTAL THERETO.
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Appropriation Act, No. 7 of 2020 (2021 Budget)
AN ACT TO PROVIDE FOR THE SERVICE OF THE FINANCIAL YEAR 2021; TO AUTHORIZE THE RAISING OF LOANS IN OR OUTSIDESRILANKA, FOR THE PURPOSE OF SUCH SERVICE; TO MAKE FINANCIAL PROVISION IN RESPECT OF CERTAIN ACTIVITIES OF THEGOVERNMENT DURING THAT FINANCIAL YEAR; TO ENABLE THE PAYMENT BY WAY OF ADVANCES OUT OF THE CONSOLIDATEDFUND OR ANY OTHER FUND OR MONEYS OF, OR AT THE DISPOSAL OF THEGOVERNMENT, OF MONEYS REQUIRED DURING THAT FINANCIAL YEAR FOR EXPENDITURE ON SUCH ACTIVITIES; TO PROVIDE FOR THE REFUND OF SUCH MONEYS TO THECONSOLIDATED FUND AND TO MAKE PROVISION FOR MATTERS CONNECTED THEREWITH OR INCIDENTAL THERETO.
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Appropriation Act (Amendment), No. 47 of 2014
AN ACT TO PROVIDE FOR THE SERVICE OF THE FINANCIAL YEAR 2014 ; TO AUTHORIZE THE RAISING OF LOANS IN OR OUTSIDE SRI LANKA, FOR THE PURPOSE OF SUCH SERVICE ; TO MAKE FINANCIAL PROVISION IN RESPECT OF CERTAIN ACTIVITIES OF THE GOVERNMENT DURING THAT FINANCIAL YEAR ; TO ENABLE THE PAYMENT BY WAY OF ADVANCES OUT OF THE CONSOLIDATED FUND OR ANY OTHER FUND OR MONEYS, OF OR AT THE DISPOSAL OF THE GOVERNMENT, OF MONEYS REQUIRED DURING THAT FINANCIAL YEAR FOR EXPENDITURE ON SUCH ACTIVITIES ; TO PROVIDE FOR THE REFUND OF SUCH MONEYS TO THE CONSOLIDATED FUND AND TO MAKE PROVISION FOR MATTERS CONNECTED THEREWITH OR INCIDENTAL THERETO.
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Appropriation Act (Amendment), No. 23 of 2016
AN ACT TO PROVIDE FOR THE SERVICE OF THE FINANCIAL YEAR 2016 ; TO AUTHORIZE THE RAISING OF LOANS IN OR OUTSIDE SRI LANKA, FOR THE PURPOSE OF SUCH SERVICE ; TO MAKE FINANCIAL PROVISION IN RESPECT OF CERTAIN ACTIVITIES OF THE GOVERNMENT DURING THAT FINANCIAL YEAR ; TO ENABLE THE PAYMENT BY WAY OF ADVANCES OUT OF THE CONSOLIDATED FUND OR ANY OTHER FUND OR MONEYS, OF OR AT THE DISPOSAL OF THE GOVERNMENT, OF MONEYS REQUIRED DURING THAT FINANCIAL YEAR FOR EXPENDITURE ON SUCH ACTIVITIES ; TO PROVIDE FOR THE REFUND OF SUCH MONEYS TO THE CONSOLIDATED FUND AND TO MAKE PROVISION FOR MATTERS CONNECTED THEREWITH OR INCIDENTAL THERETO.
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Appropriation Act, No. 24 of 2016
AN ACT TO PROVIDE FOR THE SERVICE OF THE FINANCIAL YEAR 2016 ; TO AUTHORIZE THE RAISING OF LOANS IN OR OUTSIDE SRI LANKA, FOR THE PURPOSE OF SUCH SERVICE ; TO MAKE FINANCIAL PROVISION IN RESPECT OF CERTAIN ACTIVITIES OF THE GOVERNMENT DURING THAT FINANCIAL YEAR ; TO ENABLE THE PAYMENT BY WAY OF ADVANCES OUT OF THE CONSOLIDATED FUND OR ANY OTHER FUND OR MONEYS, OF OR AT THE DISPOSAL OF THE GOVERNMENT, OF MONEYS REQUIRED DURING THAT FINANCIAL YEAR FOR EXPENDITURE ON SUCH ACTIVITIES ; TO PROVIDE FOR THE REFUND OF SUCH MONEYS TO THE CONSOLIDATED FUND AND TO MAKE PROVISION FOR MATTERS CONNECTED THEREWITH OR INCIDENTAL THERETO.
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Appropriation Act, No 30 of 2017
AN ACT TO PROVIDE FOR THE SERVICE OF THE FINANCIAL YEAR2018 ; TO AUTHORIZE THE RAISING OF LOANS IN OR OUTSIDESRILANKA, FOR THE PURPOSE OF SUCH SERVICE; TO MAKE FINANCIAL PROVISION IN RESPECT OF CERTAIN ACTIVITIES OF THEGOVERNMENT DURING THAT FINANCIAL YEAR; TO ENABLE THE PAYMENT BY WAY OF ADVANCES OUT OF THE CONSOLIDATED FUND OR ANY OTHER FUND OR MONEYS, OF OR AT THE DISPOSAL OF THEGOVERNMENT, OF MONEYS REQUIRED DURING THAT FINANCIAL YEAR FOR EXPENDITURE ON SUCH ACTIVITIES; TO PROVIDE FOR THE REFUND OF SUCH MONEYS TO THE CONSOLIDATED FUND AND TO MAKE PROVISION FOR MATTERS CONNECTED THEREWITH OR INCIDENTAL THERETO.
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