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.
This story is from the March 22, 2023 edition of Millennium Post Delhi.
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This story is from the March 22, 2023 edition of Millennium Post Delhi.
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