A beach in Sri Lanka

Sri Lanka Current Account Balance (USD bn)

Current Account Balance in Sri Lanka

The economy likely remained weak in Q1 but appeared to improve. Compared to the prior quarter, industrial production fell less, and the manufacturing and services PMIs averaged higher. Furthermore, remittances grew 82% in the quarter, compared to 33% in the fourth quarter, likely supporting private spending. Turning to Q2, the government said in late April that it would delay the publication of a plan to restructure the debt of domestic bondholders until May. Restructuring domestic debt will be key if the government is to receive further tranches of IMF funds as well as debt relief from bilateral creditors—who met formally for the first time to discuss restructuring Sri Lanka’s debt in early May. China sat in as an observer; the country has yet to participate in the talks directly.

Sri Lanka Current Account Balance Chart

This chart displays Current Account Balance (USD bn) for Sri Lanka from 2013 to 2022.

Sri Lanka Current Account Balance Data

2017 2018 2019 2020 2021
Current Account Balance (USD bn) -2 -3 -2 -1 -3

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