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Expected GDP Outcomes: Budget 2024
(Colombo: Verite Research, 2023-11-13)
The 2024 budget forecasts a greater contraction in 2023 and higher growth in 2024 compared to IMF projections.
IMF programme’s transparency falls to lowest point in September
(Colombo: Verite Research, 2023-10-19)
The latest update from 'IMF Tracker’ of Verité Research, an online platform which tracks the 100 identified commitments in Sri Lanka’s 17th programme with the International Monetary Fund (IMF), shows that Sri Lanka verifiably ...
Sri Lanka met 41 IMF commitments and failed 11 by end-Oct
(Colombo: Verite Research, 2023-11-17)
Sri Lanka verifiably met 41 of the 73 trackable commitments that were due for completion by end-October 2023 in its ongoing programme with the International Monetary Fund (IMF), according to the latest update from ‘IMF ...
What Caused the Rise in Tax Revenue from 2021 to 2022?
(Colombo: Verite Research, 2023-06-30)
In the Central Bank's Annual Report for 2022, the government's revenues witnessed a notable surge of 38%, soaring from Rs 1,484 billion to Rs 2,013 billion. A closer examination of the revenue breakdown reveals that a ...
Why did Sri Lanka fall short of revised 2022 tax revenue target?
(Colombo: Verite Research, 2023-07-20)
Sri Lanka missed its tax revenue target in 2022, falling short by Rs 101 bn. Prioritizing fiscal consolidation has been given greater importance as part of the current IMF program. A series of budget deficits, excessive ...
Sri Lanka Met 33 IMF Commitments and failed 8 by end-June
(Colombo: Verite Research, 2023-07-17)
Sri Lanka had verifiably met 33 of the trackable programme commitments of the International Monetary Fund (IMF) programme as at the end of June 2023 but had failed eight. Growing number of failed commitments, the number ...
Sri Lanka's best kept secret
(Colombo: Verite Research, 2023-11-01)
The lack of fiscal transparency is a key factor that contributed to the present crisis and loss of credibility of the government, both at home and abroad. Several commitments made by the government in its agreement with ...
Exceptionalism of Domestic Debt Restructuring in Sri Lanka
(Colombo: Verite Research, 2023-08-08)
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 ...
Tax revenue misses IMF target in 1st quarter!
(Colombo: Verite Research, 2023-08-04)
According to the 2022 Annual Report from the Ministry of Finance, tax revenue for the first quarter of 2023 experienced a surge of 56%, amounting to LKR 578 billion. This was a increase from the LKR 370 billion collected ...
Sri Lanka Met 38 IMF Commitments and Failed 8 by end-August
(Colombo: Verite Research, 2023-09-15)
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).