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Last Updated : 2024-04-30 01:14:00
8 April 2024 12:36 am - 8 - {{hitsCtrl.values.hits}}
The government announced that it has been successful in settling a total of US$ 1909.7 million in foreign debt and interest payments within a time-frame of about 19 months.
From 21 July 2022, to February 2024, the government has disbursed US$ $1338.8 million in multilateral loans and interest, with no outstanding arrears in loan installments or interest payments, President’s Office Community Affairs Director General Rajith Keerthi Tennakone said.
Addressing a press conference on Friday, he shared that according to the Department of External Resources data, payments totaling US$ 760.1 million have been made to the Asian Development Bank (ADB) and US$ 7.0 million to the Asian Infrastructure Investment Bank.
Additionally, payments of US$ 22.3 million have been made to the European Investment Bank, US$ 17.9 million to the International Fund for Agricultural Development, and US$ 9.8 million to the EFF 23-26 programme of the International Monetary Fund (IMF).
Furthermore, US$ 1.7 million has been disbursed to the Nordic Development Fund, US$ 29.9 million to the OPEC Fund for International Development, and US$ 489.9 million to the World Bank (WB).
The government’s total payment for loans and interest amount to US$ 1,338.8 million.
“It is noteworthy that the ADB, the International Monetary Fund (IMF), and the World Bank (WB) have extended further financial support to the government due to its commendable track record in debt repayment,” said Tennakone.
He pointed out that negotiations are underway with relevant states and institutions to finalise agreements on the repayment of bilateral loans and interest, which currently stand at US$ 571.0 million.
Additionally, preliminary agreements have been reached concerning debt and interest payments, involving members of the Paris Club, with outstanding interest to be settled by the end of February 2024 amounting to US$ 450.7 million.
Sambo Monday, 08 April 2024 08:19 AM
Holy mackerel. You people have been begging from every dick Tom and Harry. What have you spent this money on. Not on the people or development. Just made us beggars in the eyes of the world.
Steve Monday, 08 April 2024 08:38 AM
Where did the money come from to pay? Borrowing from Peter to pay Paul?
Jude Monday, 08 April 2024 09:17 AM
Once the government start repayment of Debt then the dollar gonna hit Rs.400 soon Coz demand for DOLLAR gonna escalate, yeah.
Ram Monday, 08 April 2024 10:45 AM
Vehicle imports together with many other imports stopped. Our brothers and sisters working overseas increased in the numbers after Covid. So we managed to settle some loan. If RW reduce his overseas stints more can be done with the savings
Expenditures Too High To Sustain Monday, 08 April 2024 12:39 PM
Cut down politicians perks and downsize the Tri Force senior officers. Much more savings should be attained. What they do now is pay old debts with interest. Soon after, new loans are signed in to cover the old payments plus interest. So the cycle never ends. Just on paper it looks good!
Mila Monday, 08 April 2024 02:29 PM
Loans debts are a new form of colonization. More loans are given to repay loans as well as to survive which only adds to the spiraling debt. Spiralling debt means the need to secure more loans
Bamunupala Gangedara Monday, 08 April 2024 04:23 PM
Of course while people are starving and dying! Look at the size of Myna family, Kaputu family, Kappam family, Pagapala family, Bandoora family etec. All are oversize while people are dying!! Showing the empty heluwa of RW to the world.
Sirima Udapala Tuesday, 09 April 2024 01:16 PM
while people are dying!! Chocolates for the election!! People eat and get diabetics!! No medicine - politians can go overseas!
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