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Exceptionalism of Domestic Debt Restructuring in Sri Lanka
Sri Lanka's approach to Domestic Debt Restructuring (DDR) stands out in its specificity and methodology. Notably, the strategy is centred on restructuring superannuation funds and Central Bank Holdings. According to an IMF staff report titled “Issues in Restructuring of Sovereign Domestic Debt” that detailed all 14 DDR episodes from 1998 onwards*, Sri Lanka is the only country that has adopted such a focused approach. The table and the Venn diagram below illustrate a clear deviation from the norm. While all 14 DDR episodes involved the restructuring of the banking sector, and 64% restructured private holdings, none exclusively targeted their pension funds. Only Grenada and Ghana included public pension funds in their restructuring, but these funds were among several other targets.
Featured Insight
Exceptionalism of Domestic Debt Restructuring in Sri Lanka
Sri Lanka's approach to Domestic Debt Restructuring (DDR) stands out in its specificity and methodology. Notably, the strategy is centred on restructuring superannuation funds and Central Bank Holdings. According to an IMF staff report titled “Issues in Restructuring of Sovereign Domestic Debt” that detailed all 14 DDR episodes from 1998 onwards*, Sri Lanka is the only country that has adopted such a focused approach. The table and the Venn diagram below illustrate a clear deviation from the norm. While all 14 DDR episodes involved the restructuring of the banking sector, and 64% restructured private holdings, none exclusively targeted their pension funds. Only Grenada and Ghana included public pension funds in their restructuring, but these funds were among several other targets.
Featured Insight
Exceptionalism of Domestic Debt Restructuring in Sri Lanka
Sri Lanka's approach to Domestic Debt Restructuring (DDR) stands out in its specificity and methodology. Notably, the strategy is centred on restructuring superannuation funds and Central Bank Holdings. According to an IMF staff report titled “Issues in Restructuring of Sovereign Domestic Debt” that detailed all 14 DDR episodes from 1998 onwards*, Sri Lanka is the only country that has adopted such a focused approach. The table and the Venn diagram below illustrate a clear deviation from the norm. While all 14 DDR episodes involved the restructuring of the banking sector, and 64% restructured private holdings, none exclusively targeted their pension funds. Only Grenada and Ghana included public pension funds in their restructuring, but these funds were among several other targets.
Featured Insight
Exceptionalism of Domestic Debt Restructuring in Sri Lanka
Sri Lanka's approach to Domestic Debt Restructuring (DDR) stands out in its specificity and methodology. Notably, the strategy is centred on restructuring superannuation funds and Central Bank Holdings. According to an IMF staff report titled “Issues in Restructuring of Sovereign Domestic Debt” that detailed all 14 DDR episodes from 1998 onwards*, Sri Lanka is the only country that has adopted such a focused approach. The table and the Venn diagram below illustrate a clear deviation from the norm. While all 14 DDR episodes involved the restructuring of the banking sector, and 64% restructured private holdings, none exclusively targeted their pension funds. Only Grenada and Ghana included public pension funds in their restructuring, but these funds were among several other targets.
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Budget 2021
Budget 2021
Detailed analysis of the 2021 budget.
From The PF Wire
Source:
Daily Mirror
Governement to borrow additional LKR 400 Bn for de...
The Cabinet of Ministers cleared a request to increase the government’s credit limit by further Rs.400 billion to Rs.3.39 trillion for 2021, under Appropriation Act No. 7 of 2020, to meet the pandemic-related additional expenditu...
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Source:
economynext
Sri Lanka budget deficit 4.7-pct of GDP up to June...
Sri Lanka’s budget deficit for the six months to June 2021 was 781 billion rupees, up 6 percent from a year earlier, or 4.7 percent of projected gross domestic product, data shows, though outstanding debt was accelerating at a faster p...
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Insight on Budget 2021
Breakdown of Expenditure by Ministry
Here’s a breakdown of ministerial allocations of government expe...
Budget 2021 Round-up With Expert Comment...
The Public Finance Platform presents an e...
Medium-Term Fiscal Framework, 2020 to 20...
Here’s the breakdown of Ministry of Finance projections as a share of GDP for Total Revenue...
Allocation of Government Expenditure for...
The Appropria...
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Featured
Can We Build a World-Class City with Third-World P...
This article was compiled by Dr. Sanjaya de Silva, Associate Professor of Economics at Bard College. His research interests include development and economic history in South and Southeast Asia.
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IMF Programme: Performance Evaluation (February 20...
Sri Lanka verifiably failed to meet 33% of the commitments due by end-February 2024 in its International Monetary Fund (IMF) programme, according to the February update of Verité Research’s ‘IMF Tracker’....
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State of the Budget Report Estimates 14% Shortfall...
Sri Lanka is projected to fall short of its budget target on revenue to GDP (gross domestic product) for the 33rd consecutive year in 2024, according to the recently released ‘State of the Budget Report 2024’.
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