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    Sri Lanka's Debt Profile Rapidly Improving - CBSL

    August 08, 2014

    Central Bank of Sri Lanka issuing its release on public debt management mid-year statistics said that Sri Lanka's state debt statistics has improved by mid 2014 with public debt to GDP falling to 74.3 percent. The foreign debt has fallen to 32.9 percent and local debt to 41.4 percent.


    Government Debt To GDP in Sri Lanka averaged 91.47 Percent from 1990 until 2013, reaching an all time high of 103.20 Percent in 2001 and a record low of 78.30 Percent in 2013.


    The release of Central Bank of Ceylon further states that public debt management strategies are formulated and implemented in accordance with the clearly articulated Medium Term Debt Management Strategy (MTDS) prepared by the Ministry of Finance and the Central Bank of Sri Lanka.


    The primary focus of MTDS is to build a debt portfolio with an appropriate composition, focusing on the projected path of macroeconomic indicators and market environment in order to ensure financing as per the gross borrowings limit set by the Appropriation Act. At the same time, the Public Debt Department attempts to secure the debt of the Government at the least possible cost, while also ensuring that the underlying risks of the public debt portfolio is prudently managed and in this context the mid-year statistics pertaining to the public debt
    profile of the country are released., the Central Bank further states. (ST/KH)


    Last modified on Friday, 08 August 2014 15:31

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