Sri Lanka: Third Review under the Extended Arrangement under the Extended Fund Facility and Request for Modification of Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for Sri Lanka
IMF Staff Country Reports, January 12, 2018
Source details
- Canonical URL
- Sri Lanka: Third Review under the Extended Arrangement under the Extended Fund Facility and Request for Modification of Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for Sri Lanka
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Bibliographic details
- Published: January 12, 2018
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484337035.002
Program performance and review findings
- Performance under the program has remained broadly on track since the second review despite a series of weather-related supply shocks.
- All end-June and continuous performance criteria (PCs) are met.
- Revenue mobilization has helped meet the quantitative fiscal targets.
- Strong capital inflows have supported the buildup of international reserves.
- The budget frontloads fiscal consolidation toward the authorities’ objective of reducing the overall fiscal deficit to 3.5 percent of GDP by 2020.
Fiscal targets and projections
- The budget targets a primary surplus of 1 percent of GDP.
- Authorities’ objective: reduce the overall fiscal deficit to 3.5 percent of GDP by 2020.
Macroeconomic and policy areas covered
- Subject areas listed: Banking, Central banks, Credit, Foreign exchange, International reserves, Money, Public debt, Revenue administration.
- Keywords include: central bank, CR, Credit, disbursement of the equivalent of SDR, discussion of the review, Global, government, government assets, International reserves, ISCR, Middle East, monetary policy, SDR, South Asia, Sri Lanka's performance, Sri Lankan authorities.
Content in this bundle
- Country Report