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Is Maldives going down Sri Lanka's path?: Concern on Budget Deficits
The graphs below depict the Primary Balances and budget balances as a percentage of GDP for Maldives and Sri Lanka. Besides 2017 and 2018, Sri Lanka’s annual Primary Balance has consistently been a deficit with 2021 reporting the largest deficit of 6 percent. Maldives follows a consecutive negative trend in their Primary Balance with the largest deficit of 21 percent in 2020. These numbers signal a similar path to Sri Lanka for Maldives in terms of their Primary Balances. When looking at Budget Balances, Sri Lanka and Maldives appear to be following a similar trend. Both countries exhibit a similar trend of having large deficits. For both Maldives and Sri Lanka the largest deficits are seen in 2020, 23% for Maldives and 13% for Sri Lanka. Running persistent deficits would add a significant debt burden to the economy as they need to be financed by borrowing making it vulnerable to an economic crisis.
Featured Insight
Is Maldives going down Sri Lanka's path?: Concern on Budget Deficits
The graphs below depict the Primary Balances and budget balances as a percentage of GDP for Maldives and Sri Lanka. Besides 2017 and 2018, Sri Lanka’s annual Primary Balance has consistently been a deficit with 2021 reporting the largest deficit of 6 percent. Maldives follows a consecutive negative trend in their Primary Balance with the largest deficit of 21 percent in 2020. These numbers signal a similar path to Sri Lanka for Maldives in terms of their Primary Balances. When looking at Budget Balances, Sri Lanka and Maldives appear to be following a similar trend. Both countries exhibit a similar trend of having large deficits. For both Maldives and Sri Lanka the largest deficits are seen in 2020, 23% for Maldives and 13% for Sri Lanka. Running persistent deficits would add a significant debt burden to the economy as they need to be financed by borrowing making it vulnerable to an economic crisis.
Featured Insight
Is Maldives going down Sri Lanka's path?: Concern on Budget Deficits
The graphs below depict the Primary Balances and budget balances as a percentage of GDP for Maldives and Sri Lanka. Besides 2017 and 2018, Sri Lanka’s annual Primary Balance has consistently been a deficit with 2021 reporting the largest deficit of 6 percent. Maldives follows a consecutive negative trend in their Primary Balance with the largest deficit of 21 percent in 2020. These numbers signal a similar path to Sri Lanka for Maldives in terms of their Primary Balances. When looking at Budget Balances, Sri Lanka and Maldives appear to be following a similar trend. Both countries exhibit a similar trend of having large deficits. For both Maldives and Sri Lanka the largest deficits are seen in 2020, 23% for Maldives and 13% for Sri Lanka. Running persistent deficits would add a significant debt burden to the economy as they need to be financed by borrowing making it vulnerable to an economic crisis.
Featured Insight
Is Maldives going down Sri Lanka's path?: Concern on Budget Deficits
The graphs below depict the Primary Balances and budget balances as a percentage of GDP for Maldives and Sri Lanka. Besides 2017 and 2018, Sri Lanka’s annual Primary Balance has consistently been a deficit with 2021 reporting the largest deficit of 6 percent. Maldives follows a consecutive negative trend in their Primary Balance with the largest deficit of 21 percent in 2020. These numbers signal a similar path to Sri Lanka for Maldives in terms of their Primary Balances. When looking at Budget Balances, Sri Lanka and Maldives appear to be following a similar trend. Both countries exhibit a similar trend of having large deficits. For both Maldives and Sri Lanka the largest deficits are seen in 2020, 23% for Maldives and 13% for Sri Lanka. Running persistent deficits would add a significant debt burden to the economy as they need to be financed by borrowing making it vulnerable to an economic crisis.
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International Monetary Fund
International Monetary Fund
Insights and analysis on the 2023 IMF programme.
Sri Lanka failed 2 IMF commitments & met 25 by end-April
An IMF Programme usually has four main types of commitments: a) Prior Actions - These are steps a country agrees to take before the IMF approves financing or completes...
From The PF Wire
Source:
Economy Next
Sri Lanka delegation discussed taxes, revenues wit...
A Sri Lankan delegation discussed tax revenue targets with the IMF, focusing on increasing VAT and other taxes for the 2025 budget.While no final decisions were made, the IMF prefers revenue hikes over spending cuts to addr...
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Source:
Daily Mirror
SL set to be removed from IMF’s surcharge list of...
Sri Lanka will be removed from the IMF's surcharge list starting November 1, 2024, due to reforms that raise the threshold for surcharges from 187.5% to 300% of a country's quota, significantly reducing its borrowin...
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Source:
News First
IMF reaches agreement on First Review of Sri Lanka...
The IMF and Sri Lankan authorities have agreed on economic policies for the first review of a 48-month Extended Fund Facility (EFF) arrangement. Once approved by the IMF Management and Executive Board, Sri Lanka will receive $330 million in...
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Insight on International Monetary Fund
Progress on IMF Programme - May 2025
As of May 2025,
Sri Lanka’s IMF programme was supposed t...
On June 12, the...
30% of IMF programme commitments due in...
By the end of April 2024, Sri Lanka has n...
IMF Programme: Performance Evaluation (F...
Sri Lanka verifiably failed to meet 33% o...
Sri Lanka’s Current IMF Programme: 110 o...
The International Monetary Fund (IMF) has...
Sri Lanka met 46 IMF commitments and fai...
The transparency in Sri Lanka’s ong...
Sri Lanka met 41 IMF commitments and fai...
Sri Lanka verifiably met 41 of the 73 trackable commitments that were due for completion by end-O...
IMF programme’s transparency falls to lo...
The latest update from 'IMF Tracker&r...
Sri Lanka Met 38 IMF Commitments and Fai...
Sri Lanka verif...
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Featured
Composition of Sri Lanka's Gross Official Reserves
The reported gross official reserves as of February 2022 stood at USD 2,311 MN, out of which 98% (USD 2,242 MN) consisted of short-term swaps maturing within 12 months. Whilst the quantity of reserves is important it is eq...
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Economic Policies in an Election Year: Some Inconv...
Dr. Sharmini Coorey is a non-resident fellow at Verité Research. She was a former Department Director at the International Monetary Fund (IMF) and currently a member of the Presidential Advisory Group on multilateral engageme...
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Quantifying grants received by Sri Lanka from 1973...
Since independence, Sri Lanka has been the recipient of bilateral and multilateral grants that have supported various initiatives, including knowledge transfers, health and education improvements, infrastructure development, and critical hum...
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