COLOMBO: Sri Lanka will be the first country in Asia to undergo a governance diagnostic exercise by the IMF which will assess corruption and governance vulnerabilities in the debt-trapped country, the global lender said on Tuesday.
The International Monetary Fund's Executive Board approved on Monday a 48-month extended arrangement under its Extended Fund Facility (EFF) with an amount of SDR 2.286 billion (about USD 3 billion) to help Sri Lanka overcome its economic crisis.
The IMF emphasised the importance of anti-corruption and governance reforms as a central pillar of the EFF-supported programme.
"We emphasise the importance of anti-corruption and governance reforms as a central pillar of the EFF-supported programme they are indispensable to ensure the hard-won gains from the reforms benefit the Sri Lankan people," Peter Breuer, the senior IMF official responsible for Sri Lanka, told reporters.
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