IMF Staff Country Reports

Sri Lanka: Staff Report for the 2002 Article IV Consultation and Final Review Under the Stand-By Arrangement

Publication Date:

September 13, 2002

Electronic Access:

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Summary:

This paper assesses Sri Lanka’s 2002 Article IV Consultation and Final Review Under the Stand-By Arrangement (SBA). Performance under the SBA has been satisfactory, although there are pressures on the budget. All the quantitative performance criteria for end-April 2002 were met and the structural benchmarks completed, albeit with a small delay. Fiscal revenue performance was reasonable in the first half of the year, and the new value-added tax was introduced (after some delay) from August. The authorities have also taken several important steps on their structural reform agenda.

Series:

Country Report No. 2002/199

Subject:

Banking Budget planning and preparation Commercial banks Economic sectors Financial institutions Monetary base Money Public debt Public financial management (PFM) Public sector