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Sri Lanka: Selected Issues

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  • International Monetary Fund

Abstract

This Selected Issues paper discusses measures needed for structural transformation in Sri Lanka. The government has ambitious plans to achieve upper middle-income country status in 2025 by transforming Sri Lanka in an Indian Ocean Hub for trade, investment, and services. Stable and transparent regulatory systems would make Sri Lanka’s business environment more attractive for long-term investment and support trade integration. Reviewing trade barriers and developing a phased and sequenced strategy for gradual removal of restrictions is a first necessary step toward enabling more competitive trade. In this regard, the authorities’ decision to gradually rationalize para-tariffs and set up automated approval systems is a welcome step. Ongoing open consultative processes on reform strategies can also help building public consensus in support of these important objectives.

Suggested Citation

  • International Monetary Fund, 2018. "Sri Lanka: Selected Issues," IMF Staff Country Reports 2018/176, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2018/176
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=45998
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    Cited by:

    1. Mahinda Senevi Gunaratne & R. B. Radin Firdaus & Shamila Indika Rathnasooriya, 2021. "Climate change and food security in Sri Lanka: towards food sovereignty," Palgrave Communications, Palgrave Macmillan, vol. 8(1), pages 1-14, December.
    2. Chandranath Amarasekara & Bernard Njindan Iyke & Paresh Kumar Narayan, 2022. "The role of R&D and economic policy uncertainty in Sri Lanka’s economic growth," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 8(1), pages 1-19, December.

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