Sri Lanka needs faster economic growth to repay debt: Ranil

Sri Lanka must achieve faster economic growth to repay its debts from 2028 without increasing the country’s financial burden, former President Ranil Wickremesinghe has said.

Speaking during the “Read with Ranil” programme held on July 15, 2026, Wickremesinghe said Sri Lanka will begin repaying its debt in 2028, while the repayment process will have to be fully implemented by 2030.

He said the country’s debt burden could rise to around USD 6 billion.

The former President warned that if Sri Lanka has to obtain new loans to repay its existing debt, the total debt burden will rise further. This would force the government to use a larger share of its funds for debt repayments.

Therefore, rapid economic growth is the only solution, he said.

Comparing Sri Lanka with countries such as Vietnam and Bangladesh, Wickremesinghe said Bangladesh was poorer than Sri Lanka in 1977 but has since achieved significant economic growth.

He stressed that the government must create economic growth to provide employment, housing and education for future generations.

Wickremesinghe also said the International Monetary Fund alone cannot save Sri Lanka and that the country must properly implement the necessary economic measures.