Sri Lanka: First Review Under the Stand-By Arrangement: Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Sri Lanka

August 6, 2010

Preview Citation

Format: Chicago

Sri Lanka: First Review Under the Stand-By Arrangement: Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Sri Lanka, (USA: International Monetary Fund, 2010) accessed November 24, 2024

Summary

Sri Lanka’ performance under the Stand-by Arrangement is encouraging, but fundamental vulnerabilities remain. Executive Directors emphasized the need for strict adherence to program targets and steadfast implementation of the reform agenda. They commended deficit reduction and planned fiscal reforms through expenditure restraint and tax reform for simplifying the system. They appreciated the improvement in financial sector reform brought about by improving the bank resolution framework. They emphasized that post-war reconstruction needs should be met by diverting budget resources from military activities, as well as through donor financing.

Subject: Banking, Budget planning and preparation, Expenditure, Fiscal policy, Government debt management, Monetary base, Money, Public financial management (PFM)

Keywords: Budget planning and preparation, Central Asia, CR, Executive board's discussion, Global, Government debt management, Inflation trend, ISCR, Monetary base, Policy rate reduction, Reconstruction needs, SDR, Sri Lanka' performance, Sri Lanka's request

Publication Details

Pages:

43
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2010/260
Stock No:

1LKAEA2010001
ISBN:

9781455202867
ISSN:

1934-7685

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