Government unable to meet debt repayment – Harsha

Harsha De Silva

The Samagi Jana Balawegaya says the international community is currently questioning Sri Lanka’s ability to repay foreign loans in due course.

Speaking at a media briefing today Parliamentarian Dr. Harsha de Silva said investment banking company Morgan Stanley has published that Sri Lanka is showing difficulties in repaying loans for a considerable period.

MP de Silva said the report comes after Moody’s downgraded Sri Lanka’s creditworthiness and after the country repaid 1 billion USD in debt repayment in October.

The MP reiterated that Sri Lanka has a hefty sum of 9 million USD in debt repayment, as at the year ending in August 2021.

MP de Silva added the biannual interest must also be paid on international bonds, while a total repayment must be made on the date of maturity.

The Parliamentarian also stressed that repayments must be made on bilateral loans, together with the respective interest.

(Source: News Radio)

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