Sri Lanka: Eighth and Final Review Under the Stand-By Arrangement: Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Sri Lanka.
International Monetary Fund, Jul 25, 2012 - Business & Economics - 47 pages
The Eighth and Final Review under the Stand-By Arrangement discusses policies and reforms undertaken by the Sri Lankan authorities. 2012 has shown robust growth in GDP supported by increased agricultural and construction activity. However, a weakening global demand has been an impediment to real GDP growth. The authorities looked forward to continued engagement with the IMF and intended to discuss the possibility of continuing financial support for their economic development agenda under the Extended Fund Arrangement.
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adjusted upward/downward balance of payments Bank of Sri baseline Bloomberg LP budget deficit capital CBSL CEIC Data Company Central Bank central government Ceylon Petroleum Corporation credit growth cumulative difference current account deficit Data Company Ltd Dec Mar deficit target domestic financing economic eighth and final Eighth Review end-June expenditure external current account external debt final review financial sector ﬁnancing ﬂexible exchange rate ﬂoor on NIR foreign exchange market Gross headline inﬂation higher/lower than assumed IMF staff estimates Implemented Implemented Implemented indicative targets inﬂows interest rate International Monetary Fund international reserves July 20 macroeconomic monetary conditions monetary policy observance of relevant percent of GDP program targets projected public debt purpose of monitoring quarter of 2012 ratio real GDP growth reﬂect reserve money review and observance risks rupees Sri Lanka Stand-By Arrangement successor arrangement syndicated loans Table taxes terms than assumed test date tightening treasury bills U.S. dollar