accounts measure since rapid business registration is thought to increase economic activity. Some critics have charged that the program uses indicators by conservative groups such as the Heritage Foundation and is therefore biased toward free market economics and reimposing American imperialism on the Global South. The program is said to have resulted in countries receiving less funding from other U.S. government development organizations and not more. Some development agencies have felt frozen out of the process since the compact programs are designed primarily by the country involved. Implementation has been difficult in Armenia, and concern about its effectiveness has been expressed. In February 2020, the Cabinet of Sri Lanka said it would not sign the proposed MCC agreement in its present form. A committee of experts had determined that it contained clauses incompatible with the Constitution of Sri Lanka and was "detrimental" to the country's sovereignty. After a board meeting on 15 December 2020, the MCC announced the withdrawal of its proposal for a compact with Sri Lanka. See also Millennium Challenge Corporation’s Nepal Compact Title 22 of the Code of Federal Regulations Notes References External links Official Website Millennium Challenge Corporation. Congressional Research Service Millennium Challenge Corporation in the Federal Register 2004 establishments in the United States International development agencies United States foreign aid Foreign relations of the United States