ECONOMYNEXT – Sri Lanka has repaid 1,338.8 million US dollars to multilateral lenders since President Ranil Wickremesinghe took office in July 21, 2022, an aide was quoted as saying by his media office.
Rajith Keerthy Tennakoon, President Director General of Community Affairs said 760.1 million dollars was repaid to World Bank, 489.9 million to the Asian Development Bank and 22.3 million dollars to the European Investment Bank.
Another 22.9 million was repaid to the OPEC Fund for Development, 17.9 million to the International Fund for Agricultural Development, 9.8 million to the IMF, 7 million to the Asian Infrastructure Development Bank and 1.7 million to the Nordic Development Fund.
Sri Lanka declared a default in April 2022, but under international practice, multilateral lender debt including the IMF have to be serviced.
According to a debt update released by the Finance Ministry Sri Lanka was in arrears of 2,250 million dollars to International Sovereign Bond holders, 1,770.8 million dollars to bilateral creditors and another 430.3 million to China Development Bank. (Colombo/Apr07/2024)