Sri Lanka: Staff Report for the 2005 Article IV Consultation

Author: International Monetary Fund

Volume/Issue: Volume 2005 Issue 335

Publication date: September 2005

ISBN: 9781451823561

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Topics covered in this book

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Banks and Banking , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , Natural Disasters , ISCR , CR , Sri Lanka CPI , equity price , price , staff revenue projection , Colombo CPI , monetary policy , apparel sector , Budget planning and preparation , Natural disasters , Monetary base , Global

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Summary

Sri Lanka’s 2005 Article IV Consultation reports that the fiscal deficit exceeded budget targets, and with a significant amount of government financing provided by the central bank, the growth in monetary aggregates increased, contributing to higher inflation. The near-term economic outlook is to a large extent shaped by the post-tsunami reconstruction effort. Reconstruction and a quick rebound in tourism should maintain growth momentum, but demand pressures and fuel price adjustments are expected to keep inflation in double digits.