IMF raps Sri Lanka on fiscal transparency

The International Monetary Fund has rapped Sri Lanka for slipping up on fiscal transparency and poor reporting standards, in the latest country report released Tuesday.

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The International Monetary Fund has rapped Sri Lanka for slipping up on fiscal transparency and poor reporting standards, in the latest country report released Tuesday. While there has been some progress, 'the gains remain fragile', in the backdrop of changes in government policy and tsunami related costs, the report said giving an update on Sri Lanka's progress in Report on the Observance of Standard and Codes (ROSC).

Points To Note:

There has been considerable progress in a number of areas since the original ROSC.

In particular, the adoption of the Fiscal Manageme