Fri, 03 Dec 2021 Today's Paper

Govt. to introduce debt management criterion

31 August 2020 12:00 am - 0     - {{hitsCtrl.values.hits}}

A A A

  • Criterion based on three main pillars
  • Debt is 93 percent of the GDP

By Kelum Bandara

The government will introduce a debt management criterion based on three main pillars – reduction of debt burden, extension of period for repayment and lowering debt servicing cost, a Minister said yesterday.    

State Minister of Finance, Capital Markets Development and Public Enterprise Reforms Ajith Nivard Cabraal told Daily Mirror that he would initiate work in this regard.  


Sri Lanka’s total debts stand at Rs.14 trillion, and external borrowings account for half of it. The Minister said it is 93 percent of the Gross Domestic Product (GDP) , and the plan is to reduce it to 70 percent.   
The Minister underscored the need to opt for local borrowings as a way of reducing debt servicing cost and to stabilise the rupee value against the lending currencies. 

 
“Today, currency depreciation during the term of the previous government has resulted in the increase of the rupee component of debts by Rs.1.7 trillion,” he said.   

  Comments - 0


Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment





A Sri Lankan giving dignified burials to unclaimed bodies for five decades

After their death, most people are memorialized at a service, surrounded by g

Focus on Laggala Gem mining big shots bigger than the law

The truth is now being uncovered regarding an illegal mining racket in state

How and why the TNA was formed twenty years ago

The Tamil National Alliance (TNA) is now twenty years of age. The premier pol

India lays emphasis on culture diplomacy with Sri Lanka

Indian Prime Minister Narendra Modi wanted to inaugurate the Kushinagar Inter