Siyambalapitiya reveals multilateral debt repayments continue

Saturday, 4 May 2024 00:07 - - {{hitsCtrl.values.hits}}

State Minister of Finance Ranjith Siyambalapitiya this week disclosed Sri Lanka repaid $ 2.5 billion of multilateral debt last year.

He clarified that only bilateral and commercial foreign debt payments have been halted, whereas other payments continue.

“Prior to the suspension of debt payments, Sri Lanka repaid around $ 5 billion annually. Despite the suspension, payments of $ 2.5 billion in 2022 and $ 2.6 billion in 2023 have been made towards servicing foreign debt,” he said.

Siyambalapitiya stated the Government’s unwavering commitment to maintaining strict financial discipline, asserting that these decisions, while unpopular, are essential for economic stability.

He reiterated the Government’s goal of fostering a robust economy in Sri Lanka.

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