Sri Lanka: Sixth Review Under the Extended Arrangement Under the Extended Fund Facility and Requests for Waiver of Nonobservance and Modification of Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for Sri Lanka
Electronic Access:
Free Download. Use the free Adobe Acrobat Reader to view this PDF file
Summary:
This paper discusses Sri Lanka’s Sixth Review Under the Extended Arrangement Under the Extended Fund Facility and Request for Waiver of Nonobservance and Modification of Performance Criterion. The Sri Lankan economy is gradually recovering from the impact of the Easter Sunday terrorist attacks. Growth is projected to strengthen to 3.5 percent in 2020, from 2.7 percent in 2019, as tourist arrivals and related activities gradually recover. Sustaining fiscal policy discipline remains critical to strengthen resilience and support growth, as important downside risks remain, amid heightened external and domestic uncertainty. The Sri Lankan economy is gradually recovering, supported by the authorities’ security and policy efforts to mitigate the impact of the attacks. Nevertheless, the economy remains vulnerable to shocks, given high public debt and low external buffers, with higher downside risks since the attacks, amid heightened external and domestic uncertainty. Sustained policy discipline and efforts to rebuild reserve buffers remain critical to address Sri Lanka’s vulnerabilities and strengthen the economy’s resilience, while supporting investment and growth.
Series:
Country Report No. 2019/335
Subject:
Anti-money laundering and combating the financing of terrorism (AML/CFT) Central Banks Credit Crime International organization International reserves Monetary policy Money Public debt Revenue administration
English
Publication Date:
November 4, 2019
ISBN/ISSN:
9781513518978/1934-7685
Stock No:
1LKAEA2019003
Format:
Paper
Pages:
122
Please address any questions about this title to publications@imf.org