Preparing a Fiscal Risk Statement: Sri Lanka

The International Monetary Fund (IMF) provided technical assistance to Sri Lanka to prepare a Fiscal Risk Statement (FRS) as part of its broader public financial management reforms. In response to the recent fiscal crisis, the authorities have implemented reforms to mitigate...
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Volume/Issue: Volume 2025 Issue 037
Publication date: October 2025
ISBN: 9798229028097
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Topics covered in this book

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Public Finance , Fiscal Risk Statement , data availability , communication , reform strategy , Public debt , Natural disasters , Fiscal risks , Macroeconomic risks

Summary

The International Monetary Fund (IMF) provided technical assistance to Sri Lanka to prepare a Fiscal Risk Statement (FRS) as part of its broader public financial management reforms. In response to the recent fiscal crisis, the authorities have implemented reforms to mitigate fiscal risks. While fiscal risk situation has improved, fiscal risks in areas such as macroeconomic shocks, state-owned enterprises, guarantees, public-private partnerships, financial sector, and natural disasters remain substantial. Recommendations focused on establishing clear roles and responsibilities, enhancing data quality and analysis, planning clear public communication to ensure timely preparing the 2025 FRS and improving it over time.