‘Loan instalments due in first quarter of 2020, paid’

2020-05-23 at 07:16

Senior Deputy Governor of the Central Bank of Sri Lanka Dr. Nandalal Weerasinghe says all foreign loan instalments due in the first four months of 2020 have been paid.

Dr. Weerasinghe said US $4.8 billion in foreign debt is due to be paid this year of which $1.6 billion had already been paid.

Dr. Nandalal Weerasinghe made these comments during a discussion via video technology regarding the country’s economic situation and challenges.

He said Sri Lanka has maintained a good record in repaying its foreign debt and has made repayments on time.

The Senior Deputy Governor said at the end of 2019 and earlier this year, the country had a reserve of US $ 7.5 billion and the reserves had fallen slightly due to payment of domestic debt.

He added the government is in talks with the International Monetary Fund, the World Bank, the Asian Development Bank and the Central Bank of India to meet future financial needs.