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Sri Lanka’s Current IMF Programme: 110 ongoing commitments, 62 due by March 2024
The International Monetary Fund (IMF) has published its evaluation of Sri Lanka’s performance in the first phase or ‘first term’ of the ongoing Extended Fund Facility (EFF) programme, which commenced in March 2023. Verité Research updated its ‘IMF Tracker’, based on all information available, including in the IMF evaluation titled ‘First Review Under the Extended Arrangement Under The Extended Fund Facility’. Sri Lanka had ‘met’ (with some delays) 60 of the 73 commitments due by end-November 2023. The 13 remaining commitments were ‘not met’. Of these 13, eight have been carried forward into the second term, or the period leading up to the second review. Five were irreversibly ‘not met’, and therefore, cannot be carried forward.
Featured Insight
Sri Lanka’s Current IMF Programme: 110 ongoing commitments, 62 due by March 2024
The International Monetary Fund (IMF) has published its evaluation of Sri Lanka’s performance in the first phase or ‘first term’ of the ongoing Extended Fund Facility (EFF) programme, which commenced in March 2023. Verité Research updated its ‘IMF Tracker’, based on all information available, including in the IMF evaluation titled ‘First Review Under the Extended Arrangement Under The Extended Fund Facility’. Sri Lanka had ‘met’ (with some delays) 60 of the 73 commitments due by end-November 2023. The 13 remaining commitments were ‘not met’. Of these 13, eight have been carried forward into the second term, or the period leading up to the second review. Five were irreversibly ‘not met’, and therefore, cannot be carried forward.
Featured Insight
Sri Lanka’s Current IMF Programme: 110 ongoing commitments, 62 due by March 2024
The International Monetary Fund (IMF) has published its evaluation of Sri Lanka’s performance in the first phase or ‘first term’ of the ongoing Extended Fund Facility (EFF) programme, which commenced in March 2023. Verité Research updated its ‘IMF Tracker’, based on all information available, including in the IMF evaluation titled ‘First Review Under the Extended Arrangement Under The Extended Fund Facility’. Sri Lanka had ‘met’ (with some delays) 60 of the 73 commitments due by end-November 2023. The 13 remaining commitments were ‘not met’. Of these 13, eight have been carried forward into the second term, or the period leading up to the second review. Five were irreversibly ‘not met’, and therefore, cannot be carried forward.
Featured Insight
Sri Lanka’s Current IMF Programme: 110 ongoing commitments, 62 due by March 2024
The International Monetary Fund (IMF) has published its evaluation of Sri Lanka’s performance in the first phase or ‘first term’ of the ongoing Extended Fund Facility (EFF) programme, which commenced in March 2023. Verité Research updated its ‘IMF Tracker’, based on all information available, including in the IMF evaluation titled ‘First Review Under the Extended Arrangement Under The Extended Fund Facility’. Sri Lanka had ‘met’ (with some delays) 60 of the 73 commitments due by end-November 2023. The 13 remaining commitments were ‘not met’. Of these 13, eight have been carried forward into the second term, or the period leading up to the second review. Five were irreversibly ‘not met’, and therefore, cannot be carried forward.
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Insights and analysis of public debt.
Total and primary deficits run in opposite directions
The governments primary deficit improved in the first half of 2023 compared to the corresponding period in 2022, while the budget deficit worsened increasing from LKR -903 Bn to LKR -1,243 Bn which implies a significant 93 percent increase a...
From The PF Wire
Source:
Economy Next
Sri Lanka expects talks with bondholders ‘very soo...
The country aims to complete its debt restructuring by June 2024 and proceed to the next round with the IMF board. Bondholders hav...
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Source:
Daily FT
Verité Research mooted Governance-Linked Bonds fig...
Verité Research's Governance-Linked Bond (GLB) proposal, featured prominently in recent discussions between the Sri Lankan government and external commercial creditors in London, introduces a novel mechanism to align debt repaymen...
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Source:
Daily FT
Fitch downgrades BOC's Foreign Currency IDRs to FD
Fitch Ratings has downgraded Bank of Ceylon’s (BOC) Long- and Short-Term Foreign Currency (FC) Issuer Default Ratings (IDRs) to ‘RD’ (Restricted Default) from ‘CC’ and ‘C’, respectively....
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Insight on Debt
9 Years Since Bond Scam
The 27th of February marks nine years sin...
Public Debt Increases in Dollar Value Wh...
According to recent data published by the...
Total and primary deficits run in opposi...
The governments primary deficit improved...
Sri Lanka in the top 10 countries with t...
According to data from the World Bank Dat...
Interest payments weigh heaviest in 2022...
The central bank's annual report for...
Uncovering Sri Lanka's Debt Trail: Who o...
The chart below depicts the ownership of Sri Lanka's external debt as at end of Sept 202...
Domestic Debt Restructuring
Sri Lanka faces a challenge to emerge from the continuing crisis. Th...
Charting a Path for Debt Sustainability...
Since December 2018 Sri Lanka has been subject to three notches down...
Sri Lanka’s Annual Average Sovereign For...
The infographic shows the actual annual fo...
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Featured
Large Scale Infrastructure, Small Scale Disclosure...
This article was compiled by Subhashini Abeysinghe and Chathuni Pabasara. Subhashini Abeysinghe is a Research Director at Verité Research and an eco...
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Is Sri Lanka Addicted to Missing Revenue Targets?
This article was compiled by Dr. Nishan de Mel. Dr. Nishan de Mel is the Executive Director of Verité Research and an economist with extensive acade...
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Electricity Bills in Sri Lanka: Highest in South A...
Sri Lankans pay 2.5 to 3 times more for electricity than South Asian neighbours In 2023, Sri Lanka revised its electricity charges three times in Febru...
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