Sri Lanka: Request for Stand-By Arrangement -Staff Report; Staff Supplements; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Sri Lanka
IMF Staff Country Reports, November 4, 2009
Source details
- Canonical URL
- Sri Lanka: Request for Stand-By Arrangement -Staff Report; Staff Supplements; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Sri Lanka
Other formats
Bibliographic details
- Published: November 4, 2009
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451823615.002
Executive summary and program scope
- The paper discusses a request from the Sri Lankan authorities for a Stand-By Arrangement (SBA).
- Proposed SBA size: 400 percent of quota or SDR1.65 billion.
- Primary aims of the proposed SBA:
- smooth adjustment to the external shock that has hit the country,
- restore health to the country’s public finances,
- allow for greater exchange rate flexibility,
- address weaknesses in the financial system,
- protect the most vulnerable from the burden of the needed adjustment.
- Additional program purpose: provide a basis for the authorities to approach donors for supporting a longer-term reconstruction program.
Key findings and policy priorities
- Public finance stabilization:
- Restore health to the country’s public finances (no further numeric fiscal details provided in the source text).
- External sector and exchange rate policy:
- Allow for greater exchange rate flexibility to absorb the external shock.
- Financial sector:
- Address weaknesses in the financial system (no further numeric detail provided).
- Social protection:
- Protect the most vulnerable from the burden of adjustment.
- Donor coordination:
- Use the IMF program as a basis to approach donors for longer-term reconstruction support.
Subject areas and keywords
- Subject classifications: Banking; Budget planning and preparation; Credit; Debt service; External debt; Public debt; Public financial management (PFM); Revenue administration.
- Keywords appearing in the source: authorities' economic reform program, Budget planning and preparation, CBSL intervention policy, CR, current account, debt, Debt service, deficit, economic reform, fund credit, Global, government, government's program, ISCR, liquidity position, reconstruction spending needs.
Publication and document metadata
- Publication date: November 4, 2009
- Pages: 92
- Volume: 2009
- Issue: 310
- Series: Country Report No. 2009/310
- DOI: https://doi.org/10.5089/9781451823615.002
- Stock No: 1LKAEA2009001
- ISBN: 9781451823615
- ISSN: 1934-7685
International Monetary Fund. "Sri Lanka: Request for Stand-By Arrangement -Staff Report; Staff Supplements; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Sri Lanka", IMF Staff Country Reports 2009, 310 (2009).