Sri Lanka: Staff Report for the 2002 Article IV Consultation and Final Review Under the Stand-By Arrangement

Author: International Monetary Fund

This paper assesses Sri Lanka's 2002 Article IV Consultation and Final Review Under the Stand-By Arrangement (SBA). Performance under the SBA has been satisfactory, although there are pressures on the budget. All the quantitative performance criteria for end-April 2002 were met and the structural benchmarks completed, albeit with a small delay. Fiscal revenue performance was reasonable in the first half of the year, and the new value-added tax was introduced (after some delay) from August. The authorities have also taken several important steps on their structural reform agenda.

Volume/Issue: Volume 2002 Issue 199

Publication date: September 2002

ISBN: 9781451823509

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Topics covered in this book

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Business and Economics , Banks and Banking , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , ISCR , CR , government , Sri Lankan authorities , Stand-By Arrangement , private sector growth , strategy , draft electricity reform act , private sector activity , asset sale , banking reform benchmark , expenditure performance , Budget planning and preparation , Monetary base , Public sector , Commercial banks , Global

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Summary

This paper assesses Sri Lanka’s 2002 Article IV Consultation and Final Review Under the Stand-By Arrangement (SBA). Performance under the SBA has been satisfactory, although there are pressures on the budget. All the quantitative performance criteria for end-April 2002 were met and the structural benchmarks completed, albeit with a small delay. Fiscal revenue performance was reasonable in the first half of the year, and the new value-added tax was introduced (after some delay) from August. The authorities have also taken several important steps on their structural reform agenda.