News
Colossal increase in public debt
View(s):During the first three months of this year, the country’s total public debt increased by USD 6.853 billion due to domestic borrowing by the government compared to the end of last year, an analysis report from the Treasury said.
According to the Quarterly Debt Bulletin report issued by the Ministry of Finance, Economic Stabilisation and National Policies on the status of the country’s public debt situation at the end of March, the total debt in USD increased from USD 84.703 billion to USD 91.561 billion.
The Government-guaranteed debt and borrowings of the Central Bank of Sri Lanka (CBSL) are also a part of Sri Lanka’s total public debt portfolio.
Meanwhile, the domestic debt shot up to USD 46.89 billion by March from USD 40.12 billion in December last year as the Government borrowed further through various forms such as the issuance of Treasury Bills, Treasury Bonds, Suhurupaya Loan Account of Ministry of Defence, Retirement Gratuity Loan Account and Advance from the CBSL Monetary Law Act.
Total Central Government external debt at the end of March this year amounted to USD 36.09 billion. Debt with major creditors World Bank and the Asian Development Bank represents more than 95 percent of the total multilateral debt of USD 10 billion, Paris Club countries – USD 4.54 billion, non-Paris Club countries – USD 6.78 billion, and commercial debt remains at USD 14.7 billion due to International Bond Issuances (ISBs) and Term Financing Facilities (Syndicated Loans), the report added.
The report also pointed out that 29 percent of the central government’s external debt consists of the instruments obtained in floating interest rates, whereas, 70 percent is in fixed interest rates.
The best way to say that you found the home of your dreams is by finding it on Hitad.lk. We have listings for apartments for sale or rent in Sri Lanka, no matter what locale you're looking for! Whether you live in Colombo, Galle, Kandy, Matara, Jaffna and more - we've got them all!