Sri Lanka looks at cheaper international borrowings : Ravi Karunanayake

Apr 10, 2015 (LBO) – Sri Lanka is looking at cheaper borrowing from the international market, Finance Minister Ravi Karunanayake said.

“Yes we are considering that,” Karunanayake said.

Sri Lanka’s Total Debt to Gross Domestic Product (GDP) ratio increased to 88.9 percent from reported 74.4 percent of the government debt by the end 2014, the Finance Minister has said in an earlier press conference.

According to provisional data, the outstanding debt of the government as at end 2014 was 7,373 billion rupees, which reflects a per capita debt of 357,233 rupees.

The new government says the total debt will increase to 8,817 billion rupees and the per capita debt will also increase to about 427,220 rupees for the last year.