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Sri Lanka: Technical Assistance Report-Governance Diagnostic Assessment
Author:
International Monetary Fund. Legal Dept.
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International Monetary Fund. Fiscal Affairs Dept.
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International Monetary Fund. Monetary and Capital Markets Department
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International Monetary Fund. Finance Dept.
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2023: Issue 340
Language:
English
Publication Date:
30 Sep 2023
DOI:
https://doi.org/10.5089/9798400255977.002
ISBN:
9798400255977
ISSN:
1934-7685
Pages:
139
Keywords:
governance weakness; revenue administration recommendation; governance arrangement; governance concern; governance dynamics; Corruption; Revenue administration transparency and accountability; Budget planning and preparation; Auditing; Global; Asia and Pacific
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This technical assistance report on Sri Lanka discusses the Governance Diagnostic Assessment. In recent years, a confluence of shocks and policy missteps led to a deep economic and governance crisis. Sri Lanka continues to face severe economic, social and governance challenges. The authorities have requested IMF assistance to analyse governance weaknesses and corruption vulnerabilities that are macro-critical in their own right and stand in the way of achieving the objectives of the reform program. The report highlights immediate and short-term measures to address key corruption issues, as well as structural reforms that require more time and resources but are essential to strengthen governance and initiate lasting change. The recommendations are designed as a coherent approach to improving governance through a focus on: clarity of authority and responsibility for core functions; financial and operational independence of essential accountability and law enforcement institutions; transparency in government practices and performance, especially relating to the planning, spending, and accounting for the use of public funds and assets; inclusive, accessible, and rule-based means to enforce private agreements and challenge official behaviour; and efficient mechanisms for making information public and holding organizations and individuals to account for their performance and behaviour.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund