Sri Lanka

This paper examines Sri Lanka’s Request for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF), and a Request for an Extended Arrangement. In line with the Poverty Reduction Strategy Paper (PRSP) and building on the progress made under the Stand-By Arrangement (SBA), the PRGF-Enhanced Fund Facility (EFF)-supported program aims to accelerate economic growth and reduce poverty. The IMF staff recommends extension to the obligations schedule of SBA repurchase expectations arising during July 2003–June 2004.Poverty Reduction and Growth Facility;current account, external debt, central bank, public debt, domestic financing, debt service, fiscal deficit, government debt, public finances, debt dynamics, debt stock, balance of payments, public expenditure, tax administration, fiscal consolidation, current account deficit, short-term debt, foreign debt, external shocks, current account balance, external financing, tax base, fiscal policy, domestic debt, total external debt, government revenue, capital expenditure, debt sustainability, tax incentives, bilateral donors, tax revenue, fiscal balance, tax policy, defense spending, primary fiscal balance, fiscal measures, private banks, public spending, fiscal sustainability, fiscal management, public sector debt, domestic borrowing, debt management, spending cuts, long-term debt, debt sustainability analysis, debt ratio, stock of debt, fiscal data, private creditors, external payments arrears, public expenditures, public and publicly guaranteed, government budget, fiscal adjustment, external payments, external borrowing, central government budget, commercial borrowing, payment arrears, bilateral creditors, fiscal cost, repayments, tax rates, fiscal stance, tax compliance, government deficit, multilateral creditors, fiscal deficits, formal sector, tax system, debt reduction, public and publicly guaranteed debt, official creditors, fiscal costs, bilateral donor, current accounts, fiscal performance, domestic currency, revenue collection, tax reforms, debt servicing, fiscal accounts, primary deficit, repurchases, external payment, debt office, debt burden, fiscal position, budget deficit, taxpayer registration, foreign borrowing, debt, debt ratios, interest expenditure, fiscal revenues, fiscal targets, expenditure increases, domestic debt market, nonconcessional debt, current account surplus, accumulation of arrears, private external debt, imf repurchases, general resources account, fiscal transparency, fiscal assumptions, government fiscal deficit, long-term external debt, expenditure reform, budgetary central government, low debt, public sector management, public external debt, external debt stock, bilateral loans, fiscal federalism, budget support, debt management strategy, tax collection, debt market, debt outstanding, publicly-guaranteed, long term debt, fiscal revenue, capital expenditures, central government fiscal, reserve accumulation, fiscal burden, fiscal implications, debt situation, public debt management, government spending