AJITH SIRIWARDANA 
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Current economic stability due to non-payment of external debt: Bandula
The government has been able to ensure continuous supply of gas, fuel and other necessities right now as Sri Lanka had suspended repaying external debt, Minister Bandula Gunawardena said yesterday.
Speaking at a workshop for journalists in Colombo, he said Sri Lanka had defaulted USD 36 million external debt and that the government has been able to obtain moratorium on debt repayment after diplomatic negotiations.
Colombo, Feb. 16 (Daily Mirror)- The Minister said Sri Lanka had been able to come to an agreement with the creditors and prevented legal action being taken against Sri Lanka for non-payment of external loans while in some cases Sri Lanka had to face law suits.
He said Sri Lanka has to pay 37 percent of external debt within the next five to six years while 51 percent of loans are required to be paid between 6 and 21 years and the other 12 percent is to be paid after 20 years.
The Minister said even though Sri Lanka sparingly used the funds of the Extended Fund facility of the International Monetary Fund (IMF), Sri Lanka would have to face a USD 4 billion gap in foreign reserves in 2027.
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