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Exceptionalism of Domestic Debt Restructuring in Sri Lanka
Sri Lanka's approach to Domestic Debt Restructuring (DDR) stands out in its specificity and methodology. Notably, the strategy is centred on restructuring superannuation funds and Central Bank Holdings. According to an IMF staff report titled “Issues in Restructuring of Sovereign Domestic Debt” that detailed all 14 DDR episodes from 1998 onwards*, Sri Lanka is the only country that has adopted such a focused approach. The table and the Venn diagram below illustrate a clear deviation from the norm. While all 14 DDR episodes involved the restructuring of the banking sector, and 64% restructured private holdings, none exclusively targeted their pension funds. Only Grenada and Ghana included public pension funds in their restructuring, but these funds were among several other targets.
Featured Insight
Exceptionalism of Domestic Debt Restructuring in Sri Lanka
Sri Lanka's approach to Domestic Debt Restructuring (DDR) stands out in its specificity and methodology. Notably, the strategy is centred on restructuring superannuation funds and Central Bank Holdings. According to an IMF staff report titled “Issues in Restructuring of Sovereign Domestic Debt” that detailed all 14 DDR episodes from 1998 onwards*, Sri Lanka is the only country that has adopted such a focused approach. The table and the Venn diagram below illustrate a clear deviation from the norm. While all 14 DDR episodes involved the restructuring of the banking sector, and 64% restructured private holdings, none exclusively targeted their pension funds. Only Grenada and Ghana included public pension funds in their restructuring, but these funds were among several other targets.
Featured Insight
Exceptionalism of Domestic Debt Restructuring in Sri Lanka
Sri Lanka's approach to Domestic Debt Restructuring (DDR) stands out in its specificity and methodology. Notably, the strategy is centred on restructuring superannuation funds and Central Bank Holdings. According to an IMF staff report titled “Issues in Restructuring of Sovereign Domestic Debt” that detailed all 14 DDR episodes from 1998 onwards*, Sri Lanka is the only country that has adopted such a focused approach. The table and the Venn diagram below illustrate a clear deviation from the norm. While all 14 DDR episodes involved the restructuring of the banking sector, and 64% restructured private holdings, none exclusively targeted their pension funds. Only Grenada and Ghana included public pension funds in their restructuring, but these funds were among several other targets.
Featured Insight
Exceptionalism of Domestic Debt Restructuring in Sri Lanka
Sri Lanka's approach to Domestic Debt Restructuring (DDR) stands out in its specificity and methodology. Notably, the strategy is centred on restructuring superannuation funds and Central Bank Holdings. According to an IMF staff report titled “Issues in Restructuring of Sovereign Domestic Debt” that detailed all 14 DDR episodes from 1998 onwards*, Sri Lanka is the only country that has adopted such a focused approach. The table and the Venn diagram below illustrate a clear deviation from the norm. While all 14 DDR episodes involved the restructuring of the banking sector, and 64% restructured private holdings, none exclusively targeted their pension funds. Only Grenada and Ghana included public pension funds in their restructuring, but these funds were among several other targets.
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Revenue
Revenue
Insights and analysis of government revenue.
Sri Lanka’s Revenue: What Changed Between 2021 and 2024?
Between 2021 and 2024, Sri Lanka’s government revenue and grants rose from 8.3% to 13.7% of GDP— a 65% increase in just three years. This marks a significant turnaround from the historic low of 2021, when tax cuts substantially r...
From The PF Wire
Source:
The Morning
IRD earnings top Rs. 200 b in Nov.
Sri Lanka's Inland Revenue Department collected over Rs. 200 billion in tax revenue in November 2024, primarily due to excise duties on alcohol under the Tobacco Tax Act, marking significant progress toward its incr...
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Source:
The Morning
Merchandise trade deficit narrowed in March
In March 2024, the merchandise trade deficit narrowed to $369 million, compared to $412 million in March 2023, primarily due to higher export growth than import growth.
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Source:
Economy Next
Sri Lanka tax revenues surge 38-pct to August 22 a...
Sri Lanka state revenues surged 38 percent from a year earlier to 1,448 billion rupees in the eight months to August 2022, Finance Ministry data showed as the economy inflated in the wake of a currency collapse after two years of money print...
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Insight on Revenue
Decline in government revenue for 2020
According to the Central Bank Annual Report for 2020, government reven...
Taxes on Motor Vehicle Imports
Last year the government placed import restrictions on motor vehicles. How did this aff...
Deviation of Actual vs. Estimated Revenu...
The Fiscal Management Report released recently shows that Tax Revenue between Jan – Aug 202...
Summary of Fiscal Indicators, 1950 to 20...
The following chart displays the government revenue and expenditure...
Government Revenue in 2020 – Not Suffici...
According to the Ministry of Finance, government revenue is expected t...
Tax Impacts of Import Restrictions
Between Apr...
2020 Mid-year Fiscal Performance
Latest figures released by the Central Bank of Sri Lanka show that rev...
Sri Lanka’s Fiscal Performance (2020 vs...
The latest figures released by the Ministry of Finance show that the f...
Sri Lanka’s already lagging Tax to GDP r...
Sri Lanka’s Tax/GDP ratio has been declining with further declin...
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Featured
Reallocation of Funds Can Help Finance an Election
The infographic depicts the cost of an election in comparison to selected spending decisions undertaken by the government in 2022. In 2022 the government allocated LKR...
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Sri Lanka Met 38 IMF Commitments and Failed 8 by e...
Sri Lanka verifiably met 38 of the 57 trackable commitments that were due for completion by end-August in its 17th programme with the International Monetary Fund (IMF), according to the latest progress up...
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National Budget Process in 60 Seconds!
The video below describes the National Budget process from planning to oversight. There are 4 steps to the whole process and is carried out between January and December.
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