Sri Lanka verifiably met 41 of the 73 trackable commitments that were due for completion by end-October 2023 in its ongoing programme with the International Monetary Fund (IMF), according to the latest update from ‘IMF Tracker’ of Verité Research.
The number of not met commitments was 11 and the status of 21 other commitments were ‘unknown’.
For comparison, by end-September Sri Lanka had verifiably met 40 of the 71 trackable commitments that were due for completion, with 10 ‘not met’ commitments and 21 unknown commitments.
One met, one not met
One commitment was verifiably ‘met’ in October. This was obtaining parliamentary approval for the 2023 appropriation bill, with the planned expenditure being in line with the IMF programme.
The commitment to keep the stock of expenditure in arrears at a maximum of LKR 0 by June 2023 was reclassified from ‘unknown’ to ‘not met’ in October. This was the only commitment that became ‘not met’ in October.
2nd tranche evaluation
The IMF has indicated that its evaluation for the next disbursement is limited to the commitments due up to the end of June. Sri Lanka had verifiably met 33 of the trackable programme commitments and ‘not met’ eight as of end-June.
IMF Tracker is the first and only platform in Sri Lanka which tracks the 100 identified commitments recorded along with Sri Lanka’s letter of intent to the IMF on its 17th programme approved on 20 March 2023. It is available for the public on the manthri.lk website at https://manthri.lk/en/imf_tracker.