Sri Lanka’s External Debt Hits USD 37.5 Billion
- 5opn1
- November 4, 2024
- Political
- Sri Lanka's External Debt Hits USD 37.5 Billion
- 0 Comments
The Ministry of Finance, Economic Development, Policy Formulation, Planning, and Tourism has revealed that Sri Lanka’s external debt reached a staggering USD 37.5 billion by the end of June 2024.
According to the ministry’s recently released Mid-Year Fiscal Position Report for 2024, total debt service payments from January 1 to June 30, 2024, amounted to USD 503 million.
Of this total, USD 275.1 million was allocated for principal repayments, while USD 227.9 million went toward interest payments.
In line with the government’s interim debt standstill policy adopted on April 12, 2022, external debt servicing for affected loans from bilateral and commercial creditors has been temporarily suspended. Consequently, as of June 2024, unpaid debt service has accumulated to USD 5.67 billion in principal and USD 2.53 billion in interest.
