Inflation ( CCPI)6.4% (Jan 2024)
GDP1.6% (3Q 2023)
Unemployment5.2% (2Q 2023)
3M T-Bill Rate9.79%
12M T-Bill Rate10.02%
2Y T-Bond Rate11.05%/ 11.10%
4Y T-Bond Rate12.20% / 12.30%
USD/LKR313/314
Reserves $4.5Bn (Jan 2024)
Cum. Trade Deficit $4,866 Mn (Dec 2023 cumulative)
Cum. Fiscal DeficitLKR 2,020 Bn (Nov 2023)

Sri Lanka accounted for USD 3Bn arrears of principle and interest on foreign currency debt at end of 2022

EconomicsMar 1, 2023
Sri Lanka accounted for USD 3Bn arrears of principle and interest on foreign currency debt at end of 2022

Sri Lanka suspended payments towards selected external creditors namely, bilateral (countries) and ISB investors in April 2022. Since then, USD 1Bn principal payment on ISB defaulted, and the interest due is USD 789mn by the end of the year 2022. Arrears have increased by nearly 2Bn in the second half of 2022.

Sri Lanka’s debt to GDP has been estimated as 128% by end of 2022 as per the Ministry of Finance excluding these arrases.

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