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Sri Lanka: Second Review under the Extended Arrangement under the Extended Fund Facility, Request for Waivers of Applicability and Nonobservance of Performance Criterion, and Request for Modification of Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for Sri Lanka
Author:
International Monetary Fund. Asia and Pacific Dept
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2017: Issue 253
Language:
English
Publication Date:
10 Aug 2017
DOI:
https://doi.org/10.5089/9781484315033.002
ISBN:
9781484315033
ISSN:
1934-7685
Pages:
95
Keywords:
ISCR; CR; supply disruption; authority; in-kind support; supply; credit growth; food inflation; headline inflation; inflation in June; Credit; International reserves; Exchange rate flexibility; Global; Asia and Pacific; South Asia
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This paper discusses Sri Lanka’s Second Review under the Extended Arrangement under the Extended Fund Facility, Request for Waivers of Applicability and Nonobservance of Performance Criterion (PC), and Request for Modification of PCs. The authorities remain committed to the economic reform program and undertook meaningful corrective actions where targets were missed. As a prior action, the new Inland Revenue Act will be submitted to Parliament. The authorities have also strengthened tax administration and are conducting a diagnostic review of the value-added tax. The reform momentum should strengthen further, building on the progress made so far.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund