Sri Lanka’s foreign debt USD25.6bn by April: Mid Year Fiscal Report

July 10, 2017 (LBO) – Sri Lanka’s total outstanding external debt was 25.61 billion US dollars (Rs3,886bn) by the end of April 2017, up from 23.1 billion dollars at the end of April last year, the Mid-year Fiscal Report revealed.

Government’s total debt service payments for the first four months of this year amounted to 713.4 million dollars, of which, 332.9 million has been paid for principal repayments and the balance 313.3 million has been paid for interest payment.

Last year, total debt service payments amounted to 546.8 million dollars, of which 309.7 million dollars was principal payments and the balance 237.1 million was for interest payments, during the January to April period.

Total estimated debt service payment for 2017 is 2,183 million dollars, of which 30 percent has been reached by 30th April 2017.

The report said debt service payments of state owned enterprises are not included in these figures.

Meanwhile, the government has entered into ten financing commitment agreements with foreign development partners and lending agencies during the four months.

Out of the total commitments, 174.3 million dollars and 69.8 million dollars have been made in the forms of loans and grants respectively.

As of 30th April 2017, the total undisbursed balance of foreign financing available from already committed loans to be utilized during the next 3-5 years is 8,022.2 million dollars.