{
  "title": "Sri Lanka: Second Review under the Extended Arrangement under the Extended Fund Facility, Request for Waivers of Applicability and Nonobservance of Performance Criterion, and Request for Modification of Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for Sri Lanka",
  "publication": "IMF Staff Country Reports, August 10, 2017",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2017/08/10/sri-lanka-second-review-under-the-extended-arrangement-under-the-extended-fund-facility-45178",
  "canonical": "https://www.imf.org/en/publications/cr/issues/2017/08/10/sri-lanka-second-review-under-the-extended-arrangement-under-the-extended-fund-facility-45178",
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  "summary": "This paper discusses Sri Lanka’s Second Review under the Extended Arrangement under the Extended Fund Facility, Request for Waivers of Applicability and Nonobservance of Performance Criterion (PC), and Request for Modification of PCs.",
  "publishDate": "2017-08-10",
  "series": "IMF Staff Country Reports",
  "sections": [
    {
      "heading": "Summary",
      "content": "- This paper discusses Sri Lanka’s Second Review under the Extended Arrangement under the Extended Fund Facility, Request for Waivers of Applicability and Nonobservance of Performance Criterion (PC), and Request for Modification of PCs.\n- The authorities remain committed to the economic reform program and undertook meaningful corrective actions where targets were missed.\n- As a prior action, the new Inland Revenue Act will be submitted to Parliament.\n- The authorities have also strengthened tax administration and are conducting a diagnostic review of the value-added tax.\n- The reform momentum should strengthen further, building on the progress made so far."
    },
    {
      "heading": "Major themes and areas covered",
      "content": "- Banking\n- Central banks\n- Credit\n- Exchange rate flexibility\n- Foreign exchange\n- International reserves\n- Money\n- Public debt\n- Revenue administration"
    },
    {
      "heading": "Keywords and regional focus",
      "content": "- Asia and Pacific\n- authority\n- CR\n- Credit\n- credit growth\n- Exchange rate flexibility\n- food inflation\n- Global\n- headline inflation\n- in-kind support\n- inflation in June\n- International reserves\n- ISCR\n- South Asia\n- supply\n- supply disruption"
    },
    {
      "heading": "Publication and metadata",
      "content": "- Publication date: August 10, 2017\n- Pages: 95\n- Volume: 2017\n- Issue: 253\n- Series: Country Report No. 2017/253\n- DOI: https://doi.org/10.5089/9781484315033.002\n- Stock No: 1LKAEA2017001\n- ISBN: 9781484315033\n- ISSN: 1934-7685\n\nStaff report and related documents for Sri Lanka’s Second Review under the Extended Arrangement under the Extended Fund Facility (IMF), August 10, 2017.\n\n---\n\n Content in this bundle\n\n- Country Report\n  - Country Report (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Country Report (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/cr/issues/2017/08/10/sri-lanka-second-review-under-the-extended-arrangement-under-the-extended-fund-facility-45178"
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    "Published: August 10, 2017",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781484315033.002",
    "This paper discusses Sri Lanka’s Second Review under the Extended Arrangement under the Extended Fund Facility, Request for Waivers of Applicability and Nonobservance of Performance Criterion (PC), and Request for Modification of PCs.",
    "The authorities remain committed to the economic reform program and undertook meaningful corrective actions where targets were missed.",
    "As a prior action, the new Inland Revenue Act will be submitted to Parliament.",
    "The authorities have also strengthened tax administration and are conducting a diagnostic review of the value-added tax.",
    "The reform momentum should strengthen further, building on the progress made so far.",
    "Banking",
    "Central banks",
    "Credit",
    "Exchange rate flexibility",
    "Foreign exchange",
    "International reserves",
    "Money",
    "Public debt",
    "Revenue administration",
    "Asia and Pacific",
    "authority",
    "CR",
    "Credit",
    "credit growth",
    "Exchange rate flexibility",
    "food inflation",
    "Global",
    "headline inflation",
    "in-kind support",
    "inflation in June",
    "International reserves",
    "ISCR",
    "South Asia",
    "supply",
    "supply disruption",
    "Publication date: August 10, 2017",
    "Pages: 95",
    "Volume: 2017",
    "Issue: 253",
    "Series: Country Report No. 2017/253",
    "DOI: https://doi.org/10.5089/9781484315033.002",
    "Stock No: 1LKAEA2017001",
    "ISBN: 9781484315033",
    "ISSN: 1934-7685",
    "**Country Report**"
  ],
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