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Composition of Sri Lanka's Gross Offical Reserves
The reported gross official reserves as of February 2022 stood at USD 2,311 MN, out of which 98% (USD 2,242 MN) consisted of short-term swaps maturing within 12 months. Whilst the quantity of reserves is important it is equally necessary to consider the quality of reserves. Short term swaps and foreign investment in government securities are essentially short-term in nature, and portfolio investments in government securities are also volatile. In an ideal scenario, reserves should comprise largely of non debt creating inflows such as FDI and current account surpluses. Sri Lanka however has consistently run current account deficits in its balance of payments. The second best option would be long-term stable borrowings (such as ISBs) that have a significantly longer repayment duration than short term swaps or volatile portfolio investments. Such instruments provide a greater degree of stability and longevity for a country’s reserves.
Featured Insight
Composition of Sri Lanka's Gross Offical Reserves
The reported gross official reserves as of February 2022 stood at USD 2,311 MN, out of which 98% (USD 2,242 MN) consisted of short-term swaps maturing within 12 months. Whilst the quantity of reserves is important it is equally necessary to consider the quality of reserves. Short term swaps and foreign investment in government securities are essentially short-term in nature, and portfolio investments in government securities are also volatile. In an ideal scenario, reserves should comprise largely of non debt creating inflows such as FDI and current account surpluses. Sri Lanka however has consistently run current account deficits in its balance of payments. The second best option would be long-term stable borrowings (such as ISBs) that have a significantly longer repayment duration than short term swaps or volatile portfolio investments. Such instruments provide a greater degree of stability and longevity for a country’s reserves.
Featured Insight
Composition of Sri Lanka's Gross Offical Reserves
The reported gross official reserves as of February 2022 stood at USD 2,311 MN, out of which 98% (USD 2,242 MN) consisted of short-term swaps maturing within 12 months. Whilst the quantity of reserves is important it is equally necessary to consider the quality of reserves. Short term swaps and foreign investment in government securities are essentially short-term in nature, and portfolio investments in government securities are also volatile. In an ideal scenario, reserves should comprise largely of non debt creating inflows such as FDI and current account surpluses. Sri Lanka however has consistently run current account deficits in its balance of payments. The second best option would be long-term stable borrowings (such as ISBs) that have a significantly longer repayment duration than short term swaps or volatile portfolio investments. Such instruments provide a greater degree of stability and longevity for a country’s reserves.
Featured Insight
Composition of Sri Lanka's Gross Offical Reserves
The reported gross official reserves as of February 2022 stood at USD 2,311 MN, out of which 98% (USD 2,242 MN) consisted of short-term swaps maturing within 12 months. Whilst the quantity of reserves is important it is equally necessary to consider the quality of reserves. Short term swaps and foreign investment in government securities are essentially short-term in nature, and portfolio investments in government securities are also volatile. In an ideal scenario, reserves should comprise largely of non debt creating inflows such as FDI and current account surpluses. Sri Lanka however has consistently run current account deficits in its balance of payments. The second best option would be long-term stable borrowings (such as ISBs) that have a significantly longer repayment duration than short term swaps or volatile portfolio investments. Such instruments provide a greater degree of stability and longevity for a country’s reserves.
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Department of Project Management and Monitoring Progress of Large and Mega Scale Development Projects third Quarter - Year 2021
"The report outlines of the progress Large and Mega Development Projects, submitted to the Cabinet of Ministers on the first quarter of 2021. The report highlights the investment allocation and utilization, physical progress of the projects, extensions, and issues in relation to the project in the relevant quarter. "
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Ministry of Finance Tax Reforms 2012
This document provides a complete list of all amendments made to existing tax structures over the respective year. This includes any changes made to Income Tax, Value Added Tax (VAT), Nation Building Tax (NBT), Excise (Special Provisions Duty, Economic Service Charge (ESC), various levies, and any tax exemptions.
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Ministry of Finance Tax Reforms 2011
This document provides a complete list of all amendments made to existing tax structures over the respective year. This includes any changes made to Income Tax, Value Added Tax (VAT), Nation Building Tax (NBT), Excise (Special Provisions Duty, Economic Service Charge (ESC), various levies, and any tax exemptions.
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Department of Fiscal Policy Medium Term Debt Strategy 2019
An insight on the debt strategy to be pursued until 2023 with background, assumptions and rationale. This document outlines the debt management strategy in response to the current economic state of the country. The costs and risks of the implementation of this strategy are also evaluated.
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Ministry of Finance Tax Reforms 2015
This document provides a complete list of all amendments made to existing tax structures over the respective year. This includes any changes made to Income Tax, Value Added Tax (VAT), Nation Building Tax (NBT), Excise (Special Provisions Duty, Economic Service Charge (ESC), various levies, and any tax exemptions.
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Ministry of Finance Tax Reforms 2014
This document provides a complete list of all amendments made to existing tax structures over the respective year. This includes any changes made to Income Tax, Value Added Tax (VAT), Nation Building Tax (NBT), Excise (Special Provisions Duty, Economic Service Charge (ESC), various levies, and any tax exemptions.
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