Sri Lanka: First and Second Reviews Under the Stand-By Arrangement and Requests for Waiver of Performance Criterion and for Extension of the Arrangement—Staff Report; Staff Statement; and News Brief on the Executive Board Discussion
April 19, 2002
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This paper assesses Sri Lanka’s First and Second Reviews Under the Stand-By Arrangement (SBA) and Requests for Waiver of Performance Criterion and for Extension of the Arrangement. The program supported by the current SBA approved in April 2001 achieved its initial objective of halting reserve losses. However, political and economic developments complicated economic policymaking during the second half of 2001 and led to a hiatus in the SBA. Despite the risks, the government’s strong commitment to prudent financial policies, and the actions taken to initiate key structural reforms, merit continued IMF support.
Subject: Banking, Budget planning and preparation, Commercial banks, Credit, Financial institutions, Monetary base, Money, Public debt, Public financial management (PFM)
Keywords: authority, Budget planning and preparation, Commercial banks, CR, Credit, Global, ISCR, Monetary base, poverty reduction agenda, program balance of payments prospect, PSD credit, state petroleum, WEO oil price projection
Pages:
42
Volume:
2002
DOI:
Issue:
086
Series:
Country Report No. 2002/086
Stock No:
1LKAEA0012002
ISBN:
9781451823417
ISSN:
1934-7685
