20230929-IMF-Sri_Lanka_Technical_Assistance_Report-Governance_Diagnostic_Assessment_139页_1mb

报告摘要

SRI LANKA: GOVERNANCE DIAGNOSTIC ASSESSMENT SUMMARY

Core Content

This Technical Assistance Report (TAR), prepared by the International Monetary Fund (IMF) in September 2023, provides a comprehensive Governance Diagnostic Assessment (GDA) of Sri Lanka. The assessment was conducted in response to a request from the Sri Lankan government and aimed to evaluate governance weaknesses and corruption vulnerabilities in key macroeconomic areas. These areas include anti-corruption, anti-money laundering (AML)/combating financing of terrorism (CFT), fiscal governance, central bank governance, financial sector oversight, and the rule of law. The report outlines specific weaknesses and recommendations for improvement, emphasizing the need for institutional reforms and transparency.

Main Viewpoints

Sri Lanka faces a severe economic and governance crisis that has been exacerbated by a combination of external shocks (e.g., the impact of the pandemic on tourism) and internal policy missteps.
The economic downturn has led to currency depreciation, inflation, debt burden, and social unrest, with the poverty rate nearly doubling to 25.6%.
The IMF has supported the country through an Extended Fund Facility (EFF), aimed at stabilizing the economy and supporting reform efforts.
Governance weaknesses are widespread and affect multiple sectors, including public financial management (PFM), public procurement, state-owned enterprises (SOEs), revenue administration, and central bank operations.
Corruption vulnerabilities are deeply embedded in the system, particularly due to weak accountability institutions, lack of transparency, and inadequate legal and regulatory frameworks.

Key Areas of Analysis

1. Anti-Corruption and AML/CFT

The Anti-Corruption Act (ACA) has improved the legal environment, but implementation remains weak.
The Commission to Investigate Allegations of Bribery or Corruption (CIABOC) lacks the authority and capacity to effectively carry out its functions.
There is a need for a modern Asset Recovery Law and transparent selection processes for CIABOC Commissioners.
AML/CFT mechanisms are insufficient, with beneficial ownership transparency and information sharing among agencies being major issues.

2. Fiscal Governance and Public Financial Management (PFM)

The budget credibility and coverage convergence are problematic due to lack of transparency and inadequate oversight.
Unsolicited capital investment proposals and lack of competition have led to corruption concerns and problematic projects.
Fiscal discipline is limited, and tax policy is subject to frequent and opaque changes, increasing corruption risks.
Asset declaration systems are not functional, and internal audit and control processes are insufficient, placing an excessive burden on the Auditor-General.

3. Revenue Administration and Tax Policy

Tax administration is weak, with limited digitization and high direct interaction with officials.
Customs and tax processes lack effective performance monitoring and sanctioning mechanisms for improper behavior.
Beneficial ownership information is not readily available, increasing conflict of interest risks in procurement and contract awarding.

4. Central Bank Governance and Operations

The Central Bank of Sri Lanka (CBSL) has successfully avoided a banking crisis but faces governance challenges.
The repealed legal framework created conflicts of interest due to CBSL’s direct management of the Employee Provident Fund (EPF) and Debt Management Office (DMO).
The new CBSL Act (2023) aims to improve autonomy, governance structure, and appointment processes, but governance weaknesses remain.
Public sector shareholding in the banking sector hampers arms-length oversight and transparent regulation.

5. Financial Sector Oversight

The financial sector has basic compliance mechanisms, but governance and oversight are constrained by fragmented regulations.
Non-Bank Financial Institutions (NBFI) are subject to inconsistent and non-proportional regulatory practices.
Prudential regulations are undermined by exemptions in the "maximum amount of accommodation" regulation.

6. Rule of Law and Judicial System

The judiciary suffers from case backlog, slow processing, and poor statistical record keeping.
Property rights enforcement is weak, contributing to corruption risks and legal disputes.
Land ownership and registration systems are inadequate, leading to ambiguity and disputes.

Critical Governance Weaknesses

Weak accountability institutions hinder the ability to detect, investigate, and sanction corruption.
Lack of transparency and public participation in governance processes limits oversight and trust.
Inadequate legal and regulatory frameworks for managing public resources, state enterprises, and tax policy create corruption vulnerabilities.
Fragmented and inconsistent regulatory practices across banks, NBFI, and SOEs impede financial sector oversight and governance effectiveness.
Limited digitization in tax and customs reduces efficiency and integrity monitoring.

Key Recommendations

Establish transparent and merit-based selection processes for CIABOC Commissioners.
Implement a modern Asset Recovery Law.
Strengthen information sharing between supervisory agencies.
Enhance transparency and public participation in tax policy and revenue administration.
Improve budget formulation and fiscal discipline.
Strengthen central bank governance and autonomy.
Reform financial sector regulations to ensure consistency and proportionality.
Enhance judicial efficiency, case backlog management, and property rights enforcement.
Improve public procurement processes with competitive bidding and clear guidelines.
Promote digitization in tax and customs to increase efficiency and transparency.
Establish clearer legal frameworks for public investment and land ownership.

Conclusion

The GDA highlights systemic governance weaknesses and high corruption vulnerabilities in Sri Lanka, which hinder fiscal consolidation, inclusive growth, and public trust. The report underscores the need for institutional reforms, transparent legal frameworks, and modern governance mechanisms to address these challenges. The IMF has provided support through the EFF, but sustained progress depends on the implementation of recommendations and strengthening of accountability and transparency. The publication of the GDA by the end of September 2023 serves as a structural benchmark for the Fund's program.