Sri Lanka’s debt continues to climb to record levels

by Thusiyan
Feb 25, 2018

Sri Lanka’s debt has reached a record high said the government’s Auditor General in this year’s report on Public Debt Management.

The country’s debt has climbed to a record Rs. 417,913 per person by the end of 2016, an increase of nearly Rs 45,000 from the year before. In contrast, by the end of 2005, the debt per person stood at Rs 108,908.

Moreover, the Auditor General said that debt would continue to rise due to the continuing depreciation of the Sri Lanka rupee and the inclusion of a considerable amount of foreign debt as part of the total public debt, which also continues to increase.

The Sunday Times said the report “painted a dismal picture of the country’s debt management”.

See more from the Sunday Times here.

Add new comment

About text formats

Plain text

  • No HTML tags allowed.
  • Lines and paragraphs break automatically.
  • Web page addresses and email addresses turn into links automatically.
  • Global and entity tokens are replaced with their values. Browse available tokens.

Restricted HTML

  • You can align images (data-align="center"), but also videos, blockquotes, and so on.
  • You can caption images (data-caption="Text"), but also videos, blockquotes, and so on.
  • Global and entity tokens are replaced with their values. Browse available tokens.
  • You can embed media items (using the <drupal-media> tag).

We need your support

Sri Lanka is one of the most dangerous places in the world to be a journalist. Tamil journalists are particularly at threat, with at least 41 media workers known to have been killed by the Sri Lankan state or its paramilitaries during and after the armed conflict.

Despite the risks, our team on the ground remain committed to providing detailed and accurate reporting of developments in the Tamil homeland, across the island and around the world, as well as providing expert analysis and insight from the Tamil point of view

We need your support in keeping our journalism going. Support our work today.

link button