Sri Lanka: Recent Economic Developments

International Monetary Fund

No 1998/118, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper reviews economic developments in Sri Lanka during 1995–97. After slowing to 4 percent in 1996, economic growth recovered to 6½ percent in 1997. The slowdown in 1996 had been mainly owing to a severe drought that affected the agricultural sector and disrupted the power supply. The recovery in 1997 was strongest in agriculture and manufacturing, supplemented by continued good performance in the services sector, including a rebound in tourism. In addition, significant accomplishments were achieved in economic restructuring, including several successful privatizations and an initial step toward fiscal adjustment.

Keywords: ISCR; CR; private sector; broad money; banking system; exchange rate; debt management; economic growth; goods and services tax; capital adequacy ratio; central bank; monetary policy; first quarter; Commercial banks; Foreign banks; Public sector; Loans; East Asia; South Asia; Asia and Pacific (search for similar items in EconPapers)
Pages: 120
Date: 1998-11-04
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