Tuesday February 21, 2023 1:59 pm
ECONOMYNEXT – Sri Lanka will have to repay foreign debt of $2,609 million for the first six months of 2023 to multilateral lenders, despite a suspension in payments, Cabinet Spokesman Bandula Gunawardana said.
“Though we suspended paying foreign debt in April 2022, we still have to repay multilateral like the World Bank and Asian Development Bank,” he told.
The cabinet of ministers had authorized Treasury Secretary Mahinda Siriwardene to make the payments within the borrowing ceiling set by parliament.
Principal repayments for foreign loans at 2,069 million dollars and interest is 540 million dollars.
There are also 709 million dollars Sri Lanka Development Bonds to be repaid and 46 million dollars of interest.
Sri Lanka is repaying SLDBs mostly through rupee bonds.
The repayments will be within a borrowing ceiling of 4,979 billion rupees for 2023 set by parliament. The domestic borrowing limit is 2,526 billion rupees and foreign borrowing limit is 1,453 billion rupees. (Colombo/Feb21/2023)
- https://economynext.com/sri-lanka-to-repay-us2609mn-in-foreign-debt-in-2023-first-half-112989/
ECONOMYNEXT – Sri Lanka will have to repay foreign debt of $2,609 million for the first six months of 2023 to multilateral lenders, despite a suspension in payments, Cabinet Spokesman Bandula Gunawardana said.
“Though we suspended paying foreign debt in April 2022, we still have to repay multilateral like the World Bank and Asian Development Bank,” he told.
The cabinet of ministers had authorized Treasury Secretary Mahinda Siriwardene to make the payments within the borrowing ceiling set by parliament.
Principal repayments for foreign loans at 2,069 million dollars and interest is 540 million dollars.
There are also 709 million dollars Sri Lanka Development Bonds to be repaid and 46 million dollars of interest.
Sri Lanka is repaying SLDBs mostly through rupee bonds.
The repayments will be within a borrowing ceiling of 4,979 billion rupees for 2023 set by parliament. The domestic borrowing limit is 2,526 billion rupees and foreign borrowing limit is 1,453 billion rupees. (Colombo/Feb21/2023)
- https://economynext.com/sri-lanka-to-repay-us2609mn-in-foreign-debt-in-2023-first-half-112989/
