Sri Lanka: Recent Economic and Policy Developments
December 10, 1999
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This paper reviews economic and policy developments in Sri Lanka during 1996–98. Despite the slowdown in world trade and economic growth, Sri Lanka’s economy grew in 1998 at close to its historic average rate. The recorded 4¾ percent growth in real GDP was lower than 1997 when the economy was recovering after a bad harvest. In the first twelve months following the outbreak of the Southeast Asian crisis, Sri Lanka was helped by reduced export competition and lower commodity prices. But by the middle of 1998, growth in Sri Lanka started to slow markedly.
Subject: Banking, Commercial banks, Economic sectors, Financial institutions, Foreign banks, Inflation, Labor, Pensions, Prices, Public sector
Keywords: banking system, broad money, Commercial banks, CR, exchange rate, Foreign banks, Global, Inflation, ISCR, Pensions, private sector, Public sector, South Asia, Southeast Asia, U.S. dollar
Pages:
129
Volume:
1999
DOI:
Issue:
136
Series:
Country Report No. 1999/136
Stock No:
1LKAEA0011999
ISBN:
9781451823394
ISSN:
1934-7685
