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Sri Lanka.

Author: International Monetary Fund Asia and Pacific Dept
Publisher: Washington, D.C. : International Monetary Fund, 2018.
Series: IMF Staff Country Reports; Country Report, No. 18/3.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
Macro stabilization and two major tax reforms were the key outcomes of the first half of the program. Sri Lanka is pursuing a 3-year reform program with IMF support under the extended arrangement under the Extended Fund Facility (EFF) since June 2016. Performance has been broadly on track regarding fiscal consolidation, revenue mobilization, monetary policy management, and reserves accumulation. The government  Read more...
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Genre/Form: Electronic books
Additional Physical Format: Print version:
Dept, International Monetary Fund. Asia and Pacific.
Sri Lanka.
Washington, D.C. : International Monetary Fund, ©2018
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: International Monetary Fund Asia and Pacific Dept
ISBN: 9781484337073 1484337077 1484337034 9781484337035 1484362357 9781484362358
OCLC Number: 1022786526
Notes: Attachment I Memorandum of Economic and Financial PoliciesAttachment II Technical Memorandum of Understanding.
Description: 1 online resource (96 pages)
Contents: Cover; CONTENTS; BACKGROUND; RECENT DEVELOPMENTS; OUTLOOK AND RISKS; PROGRAM PERFORMANCE; POLICY DISCUSSIONS; A. Fiscal Consolidation Needs to Continue; B. Accelerate SOE Reforms; C. Monetary Policy to Rein in Inflation Pressures; D. Financial Policies to Safeguard Stability; E. Structural Reforms to Support Fiscal Consolidation and Inclusive Growth; PROGRAM MONITORING; STAFF APPRAISAL; BOX; 1. Coping with natural disasters; FIGURES; 1. Real Sector; 2. Fiscal Sector; 3. Financial Market; 4. Foreign Exchange Reserves; 5. Monetary and Financial Sector; TABLES. 1. Selected Economic Indicators, 2015â#x80;#x93;222a. Summary of Central Government Operations, 2015â#x80;#x93;22 (In billions of rupee); 2b. Summary of Central Government Operations, 2015â#x80;#x93;22 (In percent of GDP); 2c. Summary of Central Government Operations, 2017â#x80;#x93;18 (In billions of rupees); 3. Central Government Financing Needs, 2015â#x80;#x93;18; 4a. Monetary Accounts, 2015â#x80;#x93;18 (In billions of rupees, unless otherwise indicated, end of period); 4b. Monetary Accounts, 2015â#x80;#x93;18 (In billions of rupees, unless otherwise indicated, end of period). 5a. Balance of Payments, 2015â#x80;#x93;22 (In millions of U.S. dollars, unless otherwise indicated)5b. Balance of Payments, 2016â#x80;#x93;18 (In millions of U.S. dollars, unless otherwise indicated); 6. Gross External Financing, 2015â#x80;#x93;22; 7. Financial Soundness Indicatorsâ#x80;#x93;All Banks, 2015â#x80;#x93;17; 8. Review and Purchases Under the Three-year Extended Arrangement; 9. Projected Payments to the Fund, 2016â#x80;#x93;2028 1/; ANNEXES; I. Debt Sustainability Analysis; II. State of Fiscal Structural Reforms; III. Compensating Fuel and Electricity NCOs; APPENDICES; I. Letter of Intent.
Series Title: IMF Staff Country Reports; Country Report, No. 18/3.

Abstract:

Macro stabilization and two major tax reforms were the key outcomes of the first half of the program. Sri Lanka is pursuing a 3-year reform program with IMF support under the extended arrangement under the Extended Fund Facility (EFF) since June 2016. Performance has been broadly on track regarding fiscal consolidation, revenue mobilization, monetary policy management, and reserves accumulation. The government legislated in 2016 the VAT amendments which increased VAT rates and narrowed exemptions. The program's landmark reform, the new Inland Revenue Act, was legislated in October 2017 and will be implemented in April 2018. Consistent with the objectives of the EFF-supported program, the authorities announced a new farreaching economic plan titled Vision 2025 in September 2017.

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