Sri Lanka has secured more than US$ 1.85 billion in foreign loans since the current government came to power, according to information disclosed in Parliament.

The details were revealed by the Ministry of Finance, Planning and Economic Affairs in response to a query raised by Member of Parliament Dayasiri Jayasekara.

According to the Ministry, the country obtained foreign loans amounting to US$ 1,854.77 million between the 2024 Presidential Election and May 5, 2026, excluding financial assistance received from the International Monetary Fund (IMF).

The loans were secured for 18 development projects that had been agreed upon prior to the Presidential Election. The financing package includes both bilateral and multilateral loans.

The Ministry further stated that the funds were obtained from several countries, including Japan, South Korea, Saudi Arabia, the Netherlands and India.

Meanwhile, Deputy Minister of Finance and Planning Dr. Anil Jayantha recently informed Parliament that Sri Lanka’s total outstanding debt currently stands at approximately US$ 102.02 billion.

Despite concerns regarding the country's debt burden, Minister of Rural Development, Social Security and Community Empowerment Upali Pannilage said the government has succeeded in achieving economic progress and stability.

However, former President Ranil Wickremesinghe offered a contrasting assessment, warning that the country's economy is heading towards a serious crisis. 

Addressing a recent meeting of the Working Committee of the United National Party (UNP), the former President noted that the government is facing difficulties across multiple sectors and cautioned that signs of economic deterioration would become increasingly evident in the near future.