Largest installment of debt servicing in SL history due in Jan – PM

Prime Minister Ranil Wickremesinghe, addressing the parliament today (10), said that there are many political, social and economic challenges are due to be faced by the country.

He states that when they took over the government back in 2015, the country was caught in a dangerous debt trap and that they took strategic steps to escape from that debt trap.

Wickremesinghe says that his government was able to save the country from the danger of selling off state institutions such as the airport and harbor to foreign nations due to the debt trap.

Although they managed to bring the country to a stable position in spite of thousand challenges, we now have to face a greater economic challenge, said Wickremesinghe.

Stating that this year is the year with the most amount of debt due, the Prime Minister stated that, the total amount of foreign debt and interest due for the year 2019 is nearly USD 5900 million.

Additionally, the largest installment of loan payment in the Sri Lankan history is due on the 14th of January this year and that is an amount of USD 2600 million, he further said.