External Debt in Sri Lanka

Sri Lanka External Debt | Economic News & Forecasts

Sri Lanka - External Debt

The country is undergoing its worst financial crisis since it gained independence: Rising commodity prices, a weak tourism sector and a fiscal deficit have caused the rupee’s value to sink since the start of the year. The Central Bank has been unable to defend the currency due to low international reserves, forcing the government to default on some debt payments in May and to suspend imports of basic goods. Meanwhile, soaring inflation and power cuts are hampering economic activity, with the services PMI plummeting 7.5 points in April and continuing to fall in May; schools and government offices were forced to close in late June, boding poorly for activity ahead. A new government was installed in May, with IMF bailout talks its top priority. To this end, it announced a wide range of tax increases in May, which could aggravate social unrest and thus force the president’s resignation.

Sri Lanka - External Debt Data

2015   2016   2017   2018   2019  
External Debt (% of GDP)55.7  56.6  59.1  59.2  66.6  

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Sri Lanka External Debt Chart


Sri Lanka External Debt
Note: External debt in USD bn.
Source: Central Bank of Sri Lanka (CBS)

Sri Lanka Facts

Value Change Date
Exchange Rate181.20.02 %Jan 01

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