Sri Lanka’s domestic debt increases to US$ 60 billion
- 5opn1
- December 10, 2024
- Business News
- Sri Lanka's domestic debt increases to US$ 60 billion
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Sri Lanka’s domestic debt increased by $2.4 billion in the third quarter of 2024, reaching $59.9 billion, while the total public debt rose to $103.7 billion, according to the Finance Ministry.
Treasury bills and bonds saw significant increases, with the latter rising by $2.29 billion to $44.2 billion. External debt grew to $38.2 billion, with commercial debt comprising 38%, largely through international sovereign bonds (85%) and syndicated loans.
Multilateral creditors, led by the ADB and World Bank, account for 33% of external debt, while 60% of bilateral debt originates from non-Paris Club countries. Notably, 67% of external debt carries fixed interest rates.
The government cleared $240 million in local foreign currency loans during the period. The total stock of outstanding Treasury bills increased by $ 404.7 million to $ 13.1 billion, while the total stock of outstanding Treasury bonds increased by $ 2.29 billion to $ 44.2 billion.
Furthermore, the total outstanding public debt has increased to $ 103.7 billion in the third quarter from $ 100.6 billion in the second quarter, while the total outstanding external debt increased by $ 716 million to $ 38.2 billion.
