Sri Lanka’s total debt has risen by Rs. 141700 million due to the depreciation of the rupee against the dollar say reports.
Accordingly, foreign debt has increased by Rs. 133000 million. It is stated that the country’s debt-to-GDP currently stands around 75% and 95.4% of all government revenue is currently going towards debt repayment.
It is also stated that under President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe, who came to office at the beginning of 2015, domestic debt grew by 12% and external debt by 25%.
According to certain statistics external Debt in increased to Rs.3671100 Million in June from Rd.3584617 Million in May of 2016. External Debt in Sri Lanka averaged Rs.862382.49 Million from 1986 until 2016, reaching an all time high of Rs. 3671100 Million in June of 2016.