Sri Lanka committed itself to orienting its development policies towards the Millennium Development Goals (MDGs) by 2015 at the UN Millennium Summit. The presentation featured in this publication provides a broad overview of the MDGs ingeneral and the present status of achievements at the national level. It emphasizes that the MDGs need to be country driven, nationally owned with broad participation and partnership among government, civil society, domestic stakeholders and development partners. The paper also takes a critical look at recent experiences and changes in the institutional arrangement for MDG – PRS-monitoring. In an analysis of strengths and weaknesses, the Sri Lankan situation is compared with international experiences. Selected challenges to the existing intuitional arrangement are outlined and potential steps for improvement proposed.