Ceylon - Report on the economy

UNN-ll This report is not to be published nor may it be quoted as representing the Bank's views, INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT REPORT ON THE ECONOMY OF CEYLON April 6, 1951 Economic Department Prepared by: W. M. Gilmartin H. E. Tolley  Table of Oontenits Pa&-e 3asic Statistics Sirunar7y and Conclisions i . . . t .* * . i-iv I.. tIntroduction, . . . . . e . . . . . * 1 Ir. General Structure of the Economy e , . . . . . . . 2 1. Agriculture . . , . . . . . . . 2 2. Mining a a . a . a a . . 5 3. Transportation, . . . . . , * , . . ., 5 4. t 9 . . . , . , . * 5 5. Yoteign Investment 6 . . . .. e c . , * 6 6. Goovernment Industrial Policy 7 . . . . . , 7 ITT. Ixiternal F'inanci4 Situation . , e * . * o t 8 1. The .Budgetar:. Position. 8 s . . . e . Z 2. FTinancing of Recent and. Current Deficits. . . , 11 3. Budget Prospects 1 * * . . a * 2 4. Public Debt . . . . t t * e .13 a. Internal :ebt . . . . . , . . 13 b, External Debt, . . , * a . 14 5. The Monetar7 System T n * a a . .4 . 14 6. The Central Bank of Ceylon , ; . . * . . . 15 7. Money %uplyr . i 6 8. Prices ; * * * . . * t a * 113 9~ rinancial Institutions and. Capital Formation . . 19 IV. Externial Trade and. Balance of Payments. , . e * . q 22 1,. iTature of TExternal Trade ,. . . a . 22 2. Terms of Trade , . a a e . * e a . e 25 3. Direction of Tradce . .. . e * . . 24 4. Trade blt Ourrency Areas . ., , .. e . 26 *5. Balance of Payments. .e * e * * . . 27 6.f The Dollar Position. . * . . 9