The IMF tracker is an online tool that tracks the progress on government commitments in Sri Lanka's 2023 IMF Programme. The current data is up to date as of Feburary 2026.
Proposed Commitments on Corporate Income Tax
Proposed Commitments on Credit to Government
Proposed Commitments on Debt Sustainability
Proposed Commitments on Excises Customs Duties
Proposed Commitments on Expenditure Arrears
Proposed Commitments on External Payment Arrears
Proposed Commitments on Financial Sector
Proposed Commitments on Fiscal Reforms
Proposed Commitments on Fuel and Electricity - these refer to the obligations of Ceylon Petroleum Corporation (CPC) and Ceylon Electricity Board (CEB) to supply fuel and electricity at prices below cost-recovery levels.
Proposed Commitments on Governance
Proposed Commitments on Import Restrictions
Proposed Commitments on Inflation
Proposed Commitments on Monetary Rate Policies
Proposed Commitments on Net official International Reserves
Proposed Commitments on Other Taxes
Proposed Commitments on Personal Income Taxation on Capital Income
Proposed Commitments on Personal Income Taxation on Labour Income
Proposed Commitments on Primary Balance - Primary balance refers to the difference between a government's total revenues and its total non-interest expenses
Commitments that had to be met before the IMF board approval
Proposed Commitments on Property and Wealth Taxes
Proposed Commitments on Social Net Reforms
Proposed Commitments on Social spending on, (1) Samurdhi cash transfers; (2) assistance to the elderly (over 70 years of age); (3) allowance for disabled people; and (4) financial support for kidney patients.
Proposed Commitments on State Owned Enterprice Reforms
Stock of expenditure arrears
Proposed Commitments on Tax Revenue
Proposed Commitments on Treasury guarantees - A guarantee of a debt refers to any explicit legal obligation of the central government to service such a debt in the event of nonpayment by the recipient. Treasury guarantees exclude letters of comfort.
Proposed Commitments on Value Added Tax
Enact a comprehensive Asset Recovery Law to harmonise it with the United Nations Convention Against Corruption, in consultation with IMF staff.
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Met
30-Apr-25
Met
30-Apr-25
Track and report the updated quarterly KPIs of tax compliance (Annex I)
more
Met
31-May-25
Formulation and publication of a VAT compliance improvement programme identifying, assessing, and prioritising compliance risks for key taxpayer segments and determining a detailed plan to address those risks.
more
Met
31-May-25
We will update and publish the Fiscal Strategy Statement (FSS) and enhance it with a Fiscal Risks Statement by end-June 2025.
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Met
30-Jun-25
Finalize amendments to the Companies Act to bring the beneficial ownership framework in line with the FATF standards by end-June 2025.
Source: Companies Act No 12 of 2025
Met
30-Jun-25
Make adjustments to regulations implementing the National Audit Act to facilitate the effective levying of fines on officials, including Chief Accounting Officers who fail to fulfill their responsibilities in overseeing and managing the public assets by June 2025.
Source: National Audit Act No. 19 of 2018 as amended by Act No. 19 of 2025, Section 19(6), which introduces a mechanism requiring the Surcharge Review Committee to report failures by the Secretary to the Cabinet of Ministers or Chief Accounting Officers to recover surcharged amounts to the relevant Parliamentary oversight committee (COPA or COPE). This legislative amendment directly operationalises the commitment by embedding accountability and escalation provisions for officials who fail to fulfill their asset management responsibilities.
[Full Act: https://www.parliament.lk/uploads/acts/gbills/english/6394.pdf]
Met
30-Jun-25
Parliament to lift the moratorium on enforcement of collateral (introduced during the pandemic) to permit foreclosures by creditors under the Parate Law.
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Met
30-Jun-25
Treasury FX guarantees at LKR 1,275 Bn by June 2025.
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Met
30-Jun-25
Treasury guarantees at LKR 2,100 Bn by June 2025.
more
Met
30-Jun-25
Social spending by the central government at LKR 114 Bn by June 2025.
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Met
30-Jun-25
Central government primary balance at LKR 130 Bn by June 2025.
Source: https://www.cbsl.gov.lk/sites/default/files/cbslweb_documents/statistics/wei/WEI_20250807_e.pdf
Met
30-Jun-25
Central government tax revenue at LKR 1,650 Bn by June 2025.
Source: https://www.cbsl.gov.lk/sites/default/files/cbslweb_documents/statistics/wei/WEI_20250807_e.pdf
Met
30-Jun-25
Maintain cost-recovery level of the end-user electricity tariff schedule (overall across different types of final consumers) with quarterly formula-based adjustments, on a forward-looking basis in January, April, July and October each year (effective from January 1, April 1, July 1, and October 1 respectively); the CEB submits tariff revision requests to the Public Utility Commission of Sri Lanka by end-October (for January tariff revisions), end-January (for April tariff revisions), end-April (for July tariff revisions) and end-July (for October tariff revisions); compensate the electricity sector for providing any residual subsidies with on-budget transfers; and use tariff surcharges in the interim, in case CEB is making losses.
Met
31-Jul-25
MoF to conclude the selection of members of the Board of Directors of SOBs and submit to CBSL for fitness and propriety assessment to: (i) ensure the boards have not less than nine and not more than thirteen members, and (ii) that independent directors comprise the majority of the total number of directors of each SOB board.
Based on the website of the state of banks - the board of directors meet the two criteria
Source: https://www.boc.lk/corporate-profile
Source: https://www.peoplesbank.lk/about-us/
Met
31-Jul-25
Amend BSTA guidelines, in line with the MEFP, to ensure the BSTA tariff adjustments are automatic and binding.
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Met
31-Jul-25
Submission to parliament of revisions of the SDP Act, with IMF technical assistance, that introduce transparent, rules-based eligibility criteria, to increase the effectiveness of granted tax expenditures, and to limit the duration for which incentives can be granted.
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Met
31-Aug-25
Treasury guarantees at LKR 2,100 Bn by September 2025.
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Met
30-Sep-25
Treasury FX guarantees at LKR 1,275 Bn by September 2025.
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Met
30-Sep-25
Met
30-Sep-25
Central government tax revenue at LKR 2,750 Bn by September 2025.
Source: https://www.cbsl.gov.lk/sites/default/files/cbslweb_documents/statistics/wei/WEI_20251107_e.pdf
Met
30-Sep-25
Cabinet approval of revenue measures requiring legislative amendments to support fiscal consolidation during 2026, in line with programme parameters.
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Met
30-Sep-25
Central government primary balance at LKR 300 Bn by September 2025.
Source: https://www.cbsl.gov.lk/sites/default/files/cbslweb_documents/statistics/wei/WEI_20251128_e.pdf
Met
30-Sep-25
Maintain cost-recovery level of the end-user electricity tariff schedule (overall across different types of final consumers) with quarterly formula-based adjustments, on a forward-looking basis in January, April, July and October each year (effective from January 1, April 1, July 1, and October 1 respectively); the CEB submits tariff revision requests to the Public Utility Commission of Sri Lanka by end-October (for January tariff revisions), end-January (for April tariff revisions), end-April (for July tariff revisions) and end-July (for October tariff revisions); compensate the electricity sector for providing any residual subsidies with on-budget transfers; and use tariff surcharges in the interim, in case CEB is making losses.
The PUCSL decided not to amend the Jul 2025 tariffs as they were already cost reflective
Source: https://www.pucsl.gov.lk/wp-content/uploads/2025/10/Full-Document_Decision-on-Electricity-Tariffs-October-2025.pdf
Met
31-Oct-25
Submission to parliament for the first reading of the 2026 Appropriation Bill that is in line with programme parameters.
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Met
31-Oct-25
Submission to Parliament of amendments to the Port City Act, based on IMF technical assistance, that introduce transparent, rules-based eligibility criteria, to increase the effectiveness of granted tax exemptions, and to limit the duration for which incentives can be granted.
Source: https://documents.gov.lk/view/bills/2025/12/654-2025_E.pdf
Source: https://www.treasury.gov.lk/api/file/5a69ebbe-d367-4607-aff0-2d3f30ecb473
Met
31-Oct-25
Publish the improved annual tax expenditure statement incorporating recommendations from IMF technical assistance by November 2025.
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Met
30-Nov-25
Parliamentary approval of the 2026 Appropriation Act and the spending allocations in line with programme parameters.
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Met
31-Dec-25
Our newly established Public Debt Management Office (PDMO) will be fully operational by end-December 2025.
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Met
31-Dec-25
Central government tax revenue at LKR 4,350 Bn by December 2025.
Source: https://www.cbsl.gov.lk/sites/default/files/cbslweb_documents/statistics/wei/WEI_20260320_e.pdf
Met
31-Dec-25
Year-on-year inflation in Colombo CPI: outer band 2.0%–8.0%, inner band 3.5%–6.5%, centre point 5.0% by December 2025.
Source: https://www.statistics.gov.lk/InflationAndPrices/StaticalInformation/MonthlyCCPI/Movementsofthe_CCPI
Met
31-Dec-25
Treasury guarantees at LKR 2,100 Bn by December 2025.
more
Met
31-Dec-25
Central government primary balance at LKR 730 Bn by December 2025.
Source: https://www.cbsl.gov.lk/sites/default/files/cbslweb_documents/statistics/wei/WEI_20260320_e.pdf
Met
31-Dec-25
Treasury FX guarantees at LKR 1,275 Bn by December 2025.
more
Met
31-Dec-25
Strengthen the existing asset declaration system by (i) allowing public access to published declarations through foreign and local phone numbers or email accounts and posted forms to be downloadable, (ii) publishing the remaining asset declarations of senior officials along with the list of non-filers, (iii) revising the existing form to include beneficial ownership information, and (iv) modifying current rules on redactions so that information on the value of bank accounts and other assets is disclosed to the public.
While sub-component (ii) has been fulfilled through the publication of remaining asset declarations and non-filer lists, the majority of the commitment remains undelivered. Sub-component (i) is partially met, with public access mechanisms not yet fully operationalised for foreign channels. Sub-components (iii) and (iv) remain no met. As three of the four sub-components are unmet, the commitment is assessed as Not Met overall
Not Met
30-Jun-25
Year-on-year inflation in Colombo CPI: outer band 2.0%–8.0%, inner band 3.5%–6.5%, centre point 5.0% by June 2025.
Source: https://www.statistics.gov.lk/InflationAndPrices/StaticalInformation/MonthlyCCPI/Movementsofthe_CCPI
Not Met
30-Jun-25
Publish on a semi-annual basis on a designated website (i) all public procurement contract above Rs. 1 billion, along with comprehensive information in a searchable format on contract award winners; (ii) a list of all firms receiving tax exemptions through the Board of Investments, the SDP and Port City, and an estimation of the value of these tax exemptions; and (iii) a list of firms receiving tax exemptions on luxury vehicle import.
On sub-component (i) The procurement information published, instead of being comprehensive, falls seriously short of even the existing legal requirements in Sri Lanka - some procurement contract lack basic details such as transaction value.
Sub-components (ii) and (iii) are met, Sources:
https://www.treasury.gov.lk/web/list-of-firms-receiving-tax-exemptions-under-boi-sdp-and-port-city/section/tax
https://www.treasury.gov.lk/web/list-of-firms-receiving-tax-exemptions-under-boi-sdp-and-port-city/section/list
https://www.treasury.gov.lk/web/fpd-tax-expenditure-statement/section/list%20of%20tax%20exemptions
Not Met
30-Jun-25
Ensure that all 52 major SOEs publish their audited financial statements by end-June of the following year.
There are 9 SOEs with unaudited financial statements for 2024 and 5 for 2023
Source: https://www.treasury.gov.lk/web/annual-reports-financial-statements-of-key-soes
Not Met
30-Jun-25
Enact the Public Asset Management Bill with a view to improve the transparency, management, and disposal of all public assets by July 2025.
No laws have been enacted and published yet.
Not Met
31-Jul-25
We will enact a Public Procurement Law by July 2025.
No laws have been enacted and published yet
Not Met
31-Jul-25
The amended bill on Finance Business Act is expected to be submitted to the Parliament by end-September 2025.
No amendement was brought to parliament and/or published
Not Met
30-Sep-25
We will submit to Cabinet by end- September 2025 the proposed criteria for allocating rights to public assets, with clear requirements for transparency, competition, and information provision to the public and a timeline to bring existing laws and regulations in compliance with the policy.
No cabinet decision was taken on this regard.
Not Met
30-Sep-25
Year-on-year inflation in Colombo CPI: outer band 2.0%–8.0%, inner band 3.5%–6.5%, centre point 5.0% by September 2025.
Source: https://www.statistics.gov.lk/InflationAndPrices/StaticalInformation/MonthlyCCPI/Movementsofthe_CCPI
Not Met
30-Sep-25
Submission to Parliament of legislation ensuring the Customs Department has a clear and unfettered responsibility for the clearance, movement, and control of goods to and from special economic zones (SEZ).
No amendement was brought to parliament and/or published.
Not Met
31-Oct-25
Begin pilot of national and international competitive bidding for the procurement of goods and works under the digital platform in September 2025 and a full roll out by end-December 2025
Not Met
31-Dec-25
We are working on finalizing the remaining OCC bilateral agreements and reaching agreements with the remaining creditors with a view to conclude these processes in 2025.
The investor presentation dated Feb 2026 shows that Sri lanka is yet to sign agreements with Iran, Pakistan and some Export Credit Agency loans with China
Source: https://www.treasury.gov.lk/api/file/c5b34b98-200a-4d37-9398-5ecb6b16c494
Not Met
31-Dec-25
We plan to enact the SOE law by end-2025.
No laws have been enacted and published yet
Not Met
31-Dec-25
In addition, we will prepare and publish a medium-term PFM Reform Strategy and Action Plan by end-December 2025.
No publicly available medium-term PFM Reform Strategy and Action Plan
Not Met
31-Dec-25
Publish on a semi-annual basis on a designated website (i) all public procurement contract above Rs. 1 billion, along with comprehensive information in a searchable format on contract award winners; (ii) a list of all firms receiving tax exemptions through the Board of Investments, the SDP and Port City, and an estimation of the value of these tax exemptions; and (iii) a list of firms receiving tax exemptions on luxury vehicle import.
On sub-component (i) The procurement information published, instead of being comprehensive, falls seriously short of even the existing legal requirements in Sri Lanka - some procurement contract lack basic details such as transaction value.
Sub-components (ii) and (iii) are met, Sources:
https://www.treasury.gov.lk/web/list-of-firms-receiving-tax-exemptions-under-boi-sdp-and-port-city/section/tax
https://www.treasury.gov.lk/web/list-of-firms-receiving-tax-exemptions-under-boi-sdp-and-port-city/section/list
https://www.treasury.gov.lk/web/fpd-tax-expenditure-statement/section/list%20of%20tax%20exemptions
Not Met
31-Dec-25
Amend PUCSL Act to mandate PUCSL to submit to parliament quarterly reports on maintaining cost recovery electricity pricing and publish the reports.
No amendments to the laws have been published and/or submitted to parliament yet.
Not Met
31-Jan-26
Maintain cost-recovery level of the end-user electricity tariff schedule (overall across different types of final consumers) with quarterly formula-based adjustments, on a forward-looking basis in January, April, July and October each year (effective from January 1, April 1, July 1, and October 1 respectively); the CEB submits tariff revision requests to the Public Utility Commission of Sri Lanka by end-October (for January tariff revisions), end-January (for April tariff revisions), end-April (for July tariff revisions) and end-July (for October tariff revisions); compensate the electricity sector for providing any residual subsidies with on-budget transfers; and use tariff surcharges in the interim, in case CEB is making losses.
The PUCSL annouced not to implement an electricity tariff revision for the first quarter of 2026 due to the failure of the Ceylon Electricity Board (CEB) to submit a formal tariff revision proposal within the due time
Source: https://www.pucsl.gov.lk/wp-content/uploads/2026/01/2026-01-12-To-CEB_Commissions-position-on-the-tariff-revision-for-first-quarter-of-2026.pdf
Not Met
31-Jan-26
Cost of non-commercial obligations (NCOs) for fuel and electricity (net of government transfers) at LKR 0 Bn by June 2025
Unknown
30-Jun-25
Program net official international reserves at USD -595 MN by June 2025
Unknown
30-Jun-25
Net credit to the government of the CBSL at LKR 2,560 Bn by June 2025
Unknown
30-Jun-25
Stock of expenditure arrears of the central government at LKR 0 Bn by June 2025
Unknown
30-Jun-25
New external payment arrears by the nonfinancial public sector and the CBSL at USD 0 MN by June 2025
Unknown
30-Jun-25
CBSL purchases of government securities in the primary market at LKR 0 Bn by June 2025
Unknown
30-Jun-25
IRD will report the results of a simulation exercise to test the new refund arrangements which will come into place once SVAT is repealed
Unknown
30-Jun-25
Unknown
30-Jun-25
The dispatch audit of CEB’s operational costs, which would assess the scope for efficiency gains in electricity generation and transmission, is facing delays, and we now expect to finalize it by end-August 2025.
Unknown
30-Jun-25
We have completed the roll-out of Integrated Treasury Management Information System (ITMIS) to 171 out of 172 spending heads by end-May 2025, and will conclude the rollout to the final spending head by end-June 2025.
Unknown
30-Jun-25
Track and report the updated quarterly KPIs of tax compliance (Annex I)
Unknown
31-Aug-25
Cost of non-commercial obligations (NCOs) for fuel and electricity (net of government transfers) at LKR 0 Bn by September 2025
Unknown
30-Sep-25
Social spending by the central government at LKR 167 Bn by September 2025
Unknown
30-Sep-25
CBSL purchases of government securities in the primary market at LKR 0 Bn by September 2025
Unknown
30-Sep-25
New external payment arrears by the nonfinancial public sector and the CBSL at USD 0 MN by September 2025
Unknown
30-Sep-25
New expenditure arrears of the central government at LKR 0 Bn by September 2025
Unknown
30-Sep-25
Net credit to the government of the CBSL at LKR 2,560 Bn by September 2025
Unknown
30-Sep-25
We will also produce a report on the compliance and adoption rate of the enhanced asset declaration by senior officials by end- September.
Unknown
30-Sep-25
Program net official international reserves at USD -233 MN by September 2025
Unknown
30-Sep-25
Identified stock of expenditure arrears of the central government at LKR 126 Bn by September 2025
Unknown
30-Sep-25
Track and report the updated quarterly KPIs of tax compliance (Annex I)
Unknown
30-Nov-25
Conduct a review of the electricity tariff methodology in consultation with IMF staff
Unknown
30-Nov-25
Social spending by the central government at LKR 237 Bn by December 2025
Unknown
30-Dec-25
Cost of non-commercial obligations (NCOs) for fuel and electricity (net of government transfers) at LKR 0 Bn by December 2025
Unknown
31-Dec-25
Identified stock of expenditure arrears of the central government at LKR 56 Bn by December 2025
Unknown
31-Dec-25
Adopt implementing regulations under the Public Financial Management Act (PFM)
Unknown
31-Dec-25
CBSL purchases of government securities in the primary market at LKR 0 Bn by December 2025
Unknown
31-Dec-25
New external payment arrears by the nonfinancial public sector and the CBSL at USD 0 MN by December 2025
Unknown
31-Dec-25
New expenditure arrears of the central government at LKR 0 Bn by December 2025
Unknown
31-Dec-25
We will also take steps to appoint an expert committee to collate and review all existing circulars, provisions, and other materials pertaining to the disciplinary control and conduct of judicial officers by end-2025.
Unknown
31-Dec-25
Net credit to the government of the CBSL at LKR 2,560 Bn by December 2025
Unknown
31-Dec-25
Program net official international reserves at USD 448 MN by December 2025
Unknown
31-Dec-25

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