Sri Lanka: Seventh Review under the Stand-By Arrangement and Requests for Waivers of Nonobservance of Performance Criteria, Extension of the Arrangement Period, Rephasing of Purchases, and Establishment of Performance Criteria—Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Sri Lanka

International Monetary Fund

No 2012/095, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses Sri Lanka’s seventh review under the Stand-By Arrangement and requests for waivers of nonobservance of performance criteria. The strong economic recovery continued in 2011, with growth estimated at 8¼ percent. Activity was robust across all sectors, supported by healthy exports and strong growth in domestic demand. Agriculture recovered from flooding early in the year, and is expected to grow at 6 percent. The rupee came under increasing downward pressure in the second half of 2011, especially after the size of the trade deficit became apparent and started to weigh on sentiment.

Keywords: ISCR; CR; disbursement Sri Lanka; credit policy; policy; state energy enterprise; deficit; NIR target; import expenditure; Exchange rate flexibility; Oil prices; Inflation; Exchange rate arrangements; Budget planning and preparation; Global; Central Asia (search for similar items in EconPapers)
Pages: 43
Date: 2012-04-19
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