The Financial Intelligence Unit (FIU) of Sri Lanka entered into a Memorandum of Understanding (MOU) with the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) to exchange information relating to investigations and prosecutions of money laundering, bribery or corruption, and other related offences.

Mr. Chethiya Goonasekera, PC, Commissioner of the CIABOC and Mr. Kanishka Wijeratne, Director General of the CIABOC signed the MOU on behalf of the CIABOC, and Dr. Subhani Keerthiratne, Director of the FIU signed the MOU on behalf of the FIU. The MOU signing was chaired by Dr. P Nandalal Weerasinghe, the Governor of the CBSL, in the capacity as the Chairman of the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) National Coordinating Committee. Mrs. K M A N Daulagala, Deputy Governor of the CBSL, a member of the AML/CFT Task Force, also attended the occasion.

The IMF Executive Board completed the 2024 Article IV Consultation and Second Review under the 48-month Extended Fund Facility with Sri Lanka, providing the country with immediate access to SDR 254 million (about US $336 million) to support its economic policies and reforms.

Performance under the program has been strong. All quantitative targets for end-December 2023 were met, except the indicative target on social spending. Most structural benchmarks due by end-April 2024 were either met or implemented with delay. Nevertheless, the economy is still vulnerable and the path to debt sustainability remains knife-edged. Sustaining the reform momentum and efforts to restructure debt are critical to put the economy on a path towards lasting recovery and debt sustainability.

The Article IV Consultation focused on wide-ranging reforms to restore macroeconomic stability and debt sustainability, maintain price stability, safeguard financial stability, rebuild external buffers, and implement growth-oriented structural reforms, including by strengthening governance.