Sri Lanka: First and Second Reviews Under the Stand-By Arrangement and Requests for Waiver of Performance Criterion and for Extension of the Arrangement—Staff Report; Staff Statement; and News Brief on the Executive Board Discussion

International Monetary Fund

No 2002/086, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper assesses Sri Lanka’s First and Second Reviews Under the Stand-By Arrangement (SBA) and Requests for Waiver of Performance Criterion and for Extension of the Arrangement. The program supported by the current SBA approved in April 2001 achieved its initial objective of halting reserve losses. However, political and economic developments complicated economic policymaking during the second half of 2001 and led to a hiatus in the SBA. Despite the risks, the government’s strong commitment to prudent financial policies, and the actions taken to initiate key structural reforms, merit continued IMF support.

Keywords: ISCR; CR; poverty reduction agenda; authority; state petroleum; WEO oil price projection; program balance of payments prospect; PSD credit; Commercial banks; Budget planning and preparation; Monetary base; Credit; Global (search for similar items in EconPapers)
Pages: 42
Date: 2002-04-19
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