Transparency welcomes IMF input to assets declarations

Transparency International Sri Lanka (TISL) has welcomed the introduction of a new Structural Benchmark in the IMF's Third Review Agreement, which it states addressed gaps in implementing the Asset Declarations system under the Anti-Corruption Act of 2023.

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In a statement, the TISL said this is a significant step toward ensuring public access to asset declarations, a long-standing reform which it has strongly advocated.

The benchmark requires the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) to remove excessive redactions, disclose bank balances and other asset values, improve accessibility, publish non-filers' names, include Beneficial Ownership details in declaration forms, and enact a comprehensive Asset Recovery Law in line with UNCAC obligations.

While this progress is welcome, TISL said it highlights a broader concern, as government institutions often prioritize procedural compliance over meaningful reform.