Inflation ( CCPI)1.7% (June 2024)
GDP5.3% (1Q 2024)
Unemployment4.3% (4Q 2023)
3M T-Bill Rate9.14%
12M T-Bill Rate9.95%
2Y T-Bond Rate10.10%/ 10.20%
4Y T-Bond Rate11.60% / 11.70%
USD/LKR303/304
Reserves $5.6Bn (June 2024)
Cum. Trade Deficit $2,180 Mn (May 2024 cumulative)
Cum. Fiscal DeficitLKR 361Bn (April 2024)

Sri Lanka needs to stretch more to improve revenue, IMF second tranche was delayed

IMF & Sri LankaSep 28, 2023
Sri Lanka needs to stretch more to improve revenue, IMF second tranche was delayed

Despite Sri Lanka’s achieving multiple quantitative targets under IMF guidelines, the progress of the revenue collection leads to substantial concerns about the sustainability of the program. This fact has forced the IMF to delay reaching to the staff-level agreement to release the second tranche of USD 311Mn.

IMF states “The onus of fiscal adjustment would fall on public expenditure if there were no efforts to recoup this shortfall. This could weaken the government’s ability to provide essential public services and undermine the path to debt sustainability”.

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