An IMF team is now in Sri Lanka this week to review the progress on the programme which kicked off in March 2023 and approve the second disbursement – which is now expected to be delayed till at least the end of October.

The IMF review is likely to focus on commitments that were due by the end of June. Even with that large latitude, Sri Lanka is falling short on an important governance-linked commitment. That is, the establishment of an online fiscal transparency platform. This was due by end-March but is yet to be delivered