📈 IMF Spotlights Sri Lanka’s GovPay Platform for Boosting Public Sector Efficiency & Fiscal Governance

• Global Recognition: The International Monetary Fund (IMF), in its flagship report _“Shaping the Future of Asia: Opportunities and Challenges,”_ highlighted Sri Lanka’s centralized GovPay platform as a standout model for modernizing government operations, bolstering transparency, and fostering financial inclusion. • Key Operational Drivers: • Operates over the LankaPay Online Payment Platform, integrating public agencies into the Common Electronic Fund Transfer Switch (CEFTS) network. • Enhances revenue collection efficiency by minimizing physical cash handling, eliminating the need for in-person transactions, and lowering administrative overhead costs. • Macroeconomic Impact: Boosts banking sector liquidity by funneling unbanked physical currency into formal, regulated financial channels, strengthening national fiscal governance and public service delivery.