Sri Lanka faces huge debt service requirements by July & Sept

July 01, 2016 (LBO) – Sri Lanka’s external debt service requirements are expected to be relatively larger in July and September of this year as per the estimates for the remaining period, the Finance Ministry said. Releasing the mid-year fiscal position report, the ministry said the total estimated debt service payment for 2016 is 1638.7 million US dollars, of which 33.5 percent has already been made by 30th April 2016.
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The Finance Ministry said this figure also includes the Debt Service Payments of International Bond Issuances. By the end of April 2016, the total outstanding external debt of the Government was 23.1 billion US dollars. This includes outstanding external debt for loans obtained to finance development projects and International Bond Issuances. The Finance Ministry said loans obtained by State Owned Enterprises and foreign investment on Treasury bond and Treasury Bills are not included in the total outstanding external debt. The total debt service payments from January to April 2016 amounted to 546.8 million US dollars. Of which, 309.7 million US dollars was for principal payment and the balance 237.1 million US dollars was for interest payment, the ministry said.