Sri Lanka parliament passes anti-corruption bill without vote -speaker

  • World
  • Wednesday, 19 Jul 2023

FILE PHOTO: A genaral view of the Sri Lanka's parliament is seen in Colombo, Sri Lanka November 2, 2018.REUTERS/Dinuka Liyanawatte

COLOMBO (Reuters) -Sri Lanka's parliament approved a crucial anti-corruption bill on Wednesday to improve governance in the crisis-hit country as part of requirements linked to a $2.9 billion bailout from the International Monetary Fund (IMF).

The legislation was passed without a vote in the 225-member parliament.

"The bill is passed with amendments," Sri Lanka parliament Speaker Mahinda Yapa Abeywardena told lawmakers after more than two dozen pages of amendments were included into the draft legislation during the morning session.

Sri Lanka's economy nosedived into the worst financial crisis in more than seventy years after a severe foreign exchange crunch last year forced the island to default on its foreign debt, which sent inflation soaring and rapidly depreciated its currency.

But the country's fortunes improved after it locked down a $2.9 billion programme with the IMF in March, which included introducing fresh anti-corruption legislation to strengthen governance and bring it in line with the United Nations Convention Against Corruption.

This is the first time an IMF program has been linked to such a measure in Asia.

(Reporting by Uditha Jayasinghe; Editing by Himani Sarkar and Christian Schmollinger)

Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Next In World

Three die in Italian hospital fire
OPEC members push against including fossil fuels phase-out in COP28 deal
Working after-hours might not be as productive as you think
Meta tests new AI features across apps in bid to boost appeal
‘Lego Fortnite’�debuts as part of Epic Games’ expansion plans
‘Baldur’s Gate 3’ crowned game of the year
US, S.Korea and Japan security advisors in Seoul for trilateral meeting
UN slaps sanctions on four Haiti gang leaders
North Korea boasts of satellite capability, says it will launch more soon
Number of active drilling rigs in U.S. up this week

Others Also Read