Sri Lanka Launches IMF-Backed Governance Action Plan to Combat Corruption

The Finance Ministry revealed the Government Action Plan, crafted from insights provided by the Governance Diagnostic Assessment (GDA) from the International Monetary Fund (IMF).

Via his X (formerly Twitter) account, Finance State Minister Shehan Semasinghe expressed that the action plan underscores the Sri Lankan government’s dedication to fostering a resilient economy and robust governance within the nation.

At Sri Lanka’s behest, the IMF conducted the governance diagnostic study. Publishing this report was seen as crucial for the nation’s leaders to formulate and carry out their action plan, aiming to fulfill the assessment’s recommendations in addition to the primary obligations of the Extended Fund Facility (EFF) agreement.

Sri Lanka has distinguished itself as the first Asian nation to undergo the IMF’s Governance Diagnostic process.

Previously, the IMF praised the prompt release of the GDA, noting it as an admirable initial step in tackling the entrenched issues of corruption.