Inflation ( CCPI)0.9% (March 2024)
GDP4.5% (4Q 2023)
Unemployment4.3% (4Q 2023)
3M T-Bill Rate9.90%
12M T-Bill Rate10.21%
2Y T-Bond Rate10.85%/ 11.00%
4Y T-Bond Rate12.10% / 12.20%
USD/LKR298/299
Reserves $4.951Bn (March 2024)
Cum. Trade Deficit $860 Mn (Feb 2024 cumulative)
Cum. Fiscal DeficitLKR 2,020 Bn (Nov 2023)

Sri Lanka into IMF program for the 17th time by unlocking USD 3Bn bailout package

Bank & FinanceMar 20, 2023
Sri Lanka into IMF program for the 17th time by unlocking USD 3Bn bailout package

The IMF board has given the green light to enter into 48 monthly IMF programs which will unlock USD 3Bn funding out of which USD 333Mn will be immediately available. Previously Sri Lanka had 16 agreements which were placed for 28 years.

Globally, 38% of IMF programs were terminated prematurely over the period 1980-2015. The historical figure for Sri Lanka is a little higher and close to 50%. In most of the previous agreements, the government committed to increasing public revenue as a proportion of GDP. In each case, the revenue targets were missed substantially.

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