Sri Lanka - Recent macro-economic developments and adjustment policies
Hakim, L. | Wallich, C.
Since mid-1988, Sri Lanka's security situation has deteriorated considerably. Civil disorders have kept growth, tourism, exports and foreign investment well below their potential; moreover, the escalation of violence has also put pressures on the budget. This report provides background information on the economy and complements the Policy Framework paper issued in October 1989. It first reviews recent economic developments and how they were influenced by Sri Lanka's security situation. Next it comments on the Government's stabilization and adjustment program, the steps which have been taken already as well as those that are to be taken in the near term. Finally, it analyzes the role that aid has had in financing the balance of payments and estimates the aid flows that are necessary in 1990 and beyond to ensure the success of the new Government's economic program.
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