Sri Lanka

I commend the decision in 2013 to implement ITMIS. I believe the compilation, submission, and publication of financial accounts within an acceptable framework is required to address the issues that come up among stakeholders. Credible data in a timely manner is important to establishing trust.

– Secretary to the Treasury, Daily News Feb 2021

Supporting Fiscal Efficiency and Treasury Modernization in Sri Lanka

FreeBalance implemented the Integrated Treasury Management Information System (ITMIS) in Sri Lanka in 2013. The ITMIS is part of a major reform initiative towards improved fiscal management in Sri Lanka through the Fiscal Management Efficiency Project (FMEP) – an Asian Development Bank assisted project under the Ministry of Finance and Planning.

The ITMIS has enhanced the Government of Sri Lanka’s governance with web-based technology to improve transparency, accountability and development outcomes. The FreeBalance Accountability Suite™ is deployed government-wide in all spending agencies to automate the entire PFM lifecycle in Sri Lanka.

This modern technology platform has helped to accelerate government reform and economic development in support of the citizens of Sri Lanka.

Further Reading

• How to improve your country’s PFM rankings
• FreeBalance customers perform better in their PEFA assessments
• Latest World Happiness Report shows that FreeBalance customers outperform the global average

Read more success stories on how we helped governments all over the world improve their fiscal transparency and accountability.

Sri Lanka’s PFM Achievements

World Governance Indicators

Sri Lanka’s scores for key indicators relating to Public Financial Management have improved, especially Voice and Accountability.