Current Account in Sri Lanka
Sri Lanka - Current AccountThe country is recovering in the first quarter from the recent constitutional crisis, which likely dented growth in Q4 2018. Notably, the rupee appreciated against the dollar in recent weeks while tourism data suggests a rebound in hotel occupancy and bookings in January after a weak December. However, the government is scrambling to buffer its foreign reserves in order to meet repayment obligations of USD 5.9 billion of debt this year, USD 2.6 billion of which is due this quarter. On 15 February, an IMF delegation visited Colombo to discuss resuming its USD 1.5 billion loan program, while Central Bank officials are reportedly in talks with their Indian and Chinese counterparts to secure currency swaps and loans worth USD 1.5 billion each.
Sri Lanka - Current Account Data
|Current Account (% of GDP)||-3.4||-2.5||-2.3||-2.1||-2.7|
5 years of economic forecasts for more than 30 economic indicators.
Sri Lanka Current Account Chart
Source: Central Bank of Sri Lanka (CBS)
Sri Lanka Facts
|Exchange Rate||178.6||0.02 %||Mar 11|
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