Sri Lanka, March 14 -- Sri Lanka verifiably failed to meet 33% of the commitments due by end-February 2024 in its International Monetary Fund (IMF) programme, according to the February update of Verite Research's 'IMF Tracker'.

Many of these commitments that are classified as 'not met' on IMF Tracker were designed to improve governance. These include commitments related to publishing information (transparency), and those that require the passage of governance-improving legislation. The IMF has recognised poor governance as being at the heart of Sri Lanka's economic crisis, and Sri Lanka is the first Asian country to have had an IMF-led Governance Diagnostic Assessment.

The status of 36% of the commitments are classified as 'unknown', wh...