Sri Lanka: Staff Report for the 2003 Article IV Consultation

Author: International Monetary Fund

Volume/Issue: Volume 2004 Issue 068

Publication date: March 2004

ISBN: 9781451823431

$20.00

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Exports and Imports , Inflation , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , ISCR , CR , deficit target , equity price , interest rate , government , cost of living relief , elections near , , restructuring timetable , Sri Lankan authorities , staff projection , broad money , Monetary base , Budget planning and preparation , Global

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Summary

Since the last Article IV Consultation, the Sri Lankan economy has advanced on several fronts. However, the economic effects of the two-decade long civil conflict are yet to be overcome, and many challenges remain. Recently, heightened political uncertainty has constrained the government’s ability to push ahead with reforms. The financial sector performed well in 2003, but has reacted nervously to recent political developments. The Central Bank of Sri Lanka (CBSL) cut repo rates by 275 basis points over the year.