In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country

This Selected Issues paper on Sri Lanka provides background information on economic developments and on selected policy issues facing Sri Lanka. The main economic developments in 1996 and the first quarter of 1997 are discussed. The paper highlights that in 1996, a severe drought, power...

This Background Paper on Sri Lanka provides information on the economic developments during 1992–95. Developments in the domestic and external sectors are discussed. The deficiencies of the official consumer price index that resulted in a substantial understatement of inflation performance in...

This paper reviews economic and policy developments in Sri Lanka during 1996–98. Despite the slowdown in world trade and economic growth, Sri Lanka’s economy grew in 1998 at close to its historic average rate. The recorded 43⁄4 percent growth in real GDP was lower than 1997 when the...

This paper reviews economic developments in Sri Lanka during 1996–98. After slowing to 4 percent in 1996, economic growth recovered to 61⁄2 percent in 1997. The slowdown in 1996 had been mainly owing to a severe drought that affected the agricultural sector and disrupted the power supply....

This paper reviews economic developments in Sri Lanka during 1995–97. After slowing to 4 percent in 1996, economic growth recovered to 61⁄2 percent in 1997. The slowdown in 1996 had been mainly owing to a severe drought that affected the agricultural sector and disrupted the power supply....

This Selected Issues paper on Sri Lanka provides background information on economic developments during 1995 and the first half of 1996 and on key policy issues in the current setting. The paper notes that the economic situation has deteriorated on a number of fronts—inflation has risen;...

This paper tests a version of Barro’s tax-smoothing model, which assumes intertemporal optimization by a government seeking to minimize the distortionary costs of taxation, using Pakistan and Sri Lankan data for 1956-95 and 1964-97, respectively. The empirical results indicate that...

This paper discusses a request from the Sri Lankan authorities for a Stand-By Arrangement (SBA). The proposed SBA (of 400 percent of quota or SDR1.65 billion) would aim to smooth adjustment to the external shock that has hit the country, restore health to the country’s public finances, allow...

Economic conditions are improving in Sri Lanka, and are likely to show strong growth. The current account remains strong, and tourism arrivals are rapidly improving. Monetary conditions are stable, and the central bank's policy stance is appropriate. Reforming the board of investment will...