{
  "title": "Sri Lanka: 2024 Article IV Consultation and Second Review Under the Extended Fund Facility, Request for Modification of Performance Criterion, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Sri Lanka",
  "publication": "IMF Staff Country Reports, June 13, 2024",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2024/06/13/sri-lanka-2024-article-iv-consultation-and-second-review-under-the-extended-fund-facility-550261",
  "canonical": "https://www.imf.org/en/publications/cr/issues/2024/06/13/sri-lanka-2024-article-iv-consultation-and-second-review-under-the-extended-fund-facility-550261",
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  "summary": "This paper presents Sri Lanka’s 2024 Article IV Consultation and Second Review under the Extended Fund Facility, Request for Modification of Performance Criterion, and Financing Assurances Review. Performance under the program has been strong.",
  "sections": [
    {
      "heading": "Executive summary and program performance",
      "content": "- Performance under the program has been strong.\n- All quantitative targets for end-December 2023 were met, except the indicative target on social spending.\n- Most structural benchmarks due by end-April 2024 were either met or implemented with delay.\n- The economy is still vulnerable and the path to debt sustainability remains knife-edged.\n- Sustaining the reform momentum and efforts to restructure debt are critical to put the economy on a path toward lasting recovery and debt sustainability."
    },
    {
      "heading": "Main policy priorities and reform agenda",
      "content": "- Restore macroeconomic stability and debt sustainability.\n- Maintain price stability.\n- Safeguard financial stability.\n- Rebuild external buffers.\n- Implement growth-oriented structural reforms, including by strengthening governance.\n- Authorities need to press ahead with efforts to address structural challenges to unlock long-term potential."
    },
    {
      "heading": "Subjects and keywords (as listed)",
      "content": "- Subject: Asset and liability management, Credit, Debt restructuring, International organization, Monetary policy, Money, Public debt, Revenue administration\n- Keywords: Asia and Pacific, authorities' resolve, Credit, Debt restructuring, Global, inflation expectation, public finance, ROSC update, Sri Lankan authorities, Sri Lankan authority, TA mission\n\n---\n\n Content in this bundle\n\n- 1lkaea2024001\n  - 1lkaea2024001 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1lkaea2024001 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: June 13, 2024",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400279478.002",
    "Performance under the program has been strong.",
    "All quantitative targets for end-December 2023 were met, except the indicative target on social spending.",
    "Most structural benchmarks due by end-April 2024 were either met or implemented with delay.",
    "The economy is still vulnerable and the path to debt sustainability remains knife-edged.",
    "Sustaining the reform momentum and efforts to restructure debt are critical to put the economy on a path toward lasting recovery and debt sustainability.",
    "Restore macroeconomic stability and debt sustainability.",
    "Maintain price stability.",
    "Safeguard financial stability.",
    "Rebuild external buffers.",
    "Implement growth-oriented structural reforms, including by strengthening governance.",
    "Authorities need to press ahead with efforts to address structural challenges to unlock long-term potential.",
    "Subject: Asset and liability management, Credit, Debt restructuring, International organization, Monetary policy, Money, Public debt, Revenue administration",
    "Keywords: Asia and Pacific, authorities' resolve, Credit, Debt restructuring, Global, inflation expectation, public finance, ROSC update, Sri Lankan authorities, Sri Lankan authority, TA mission",
    "**1lkaea2024001**"
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