Inflation ( CCPI)1.7% (June 2024)
GDP5.3% (1Q 2024)
Unemployment4.3% (4Q 2023)
3M T-Bill Rate9.14%
12M T-Bill Rate9.95%
2Y T-Bond Rate10.10%/ 10.20%
4Y T-Bond Rate11.60% / 11.70%
USD/LKR303/304
Reserves $5.6Bn (June 2024)
Cum. Trade Deficit $2,180 Mn (May 2024 cumulative)
Cum. Fiscal DeficitLKR 361Bn (April 2024)

Sri Lanka public debt has grown by 14% for the first half of 2023

IMF & Sri LankaSep 1, 2023
Sri Lanka public debt has grown by 14% for the first half of 2023

As a result of a mounting debt problem, Sri Lanka had to default on the external debt payments last year. However, the debt is growing at an alarming phase (14% bi-annually) as LKR-denominated debt (T-Bills and T-Bonds) has grown by 28% or USD 11.1Bn within 1H of 2023. This includes USD 3.7Bn principle areas but excludes interest areas.

For 3Q 2023, the debt related to T-bills and T-bonds has increased by another USD 2Bn. However is widely expected the growth of the debt will be declared in 2H of 2023 after debt restructuring.

Disclaimer

Charts represents an assessment of the market environment as of the date indicated and it is subject to change; and is not intended to be a forecast of future events or a guarantee of future results. This information should not be relied upon by the reader as research or investment advice regarding the funds or any issuer or security in particular. The strategies discussed are strictly for illustrative and educational purposes and should not be construed as a recommendation to purchase or sell, or an offer to sell or a solicitation of an offer to buy any security. There is no guarantee that any strategies discussed will be effective.

The information presented does not take into consideration commissions, tax implications, or other transactions costs, which may significantly affect the economic consequences of a given strategy or investment decision. This document contains general information only and does not take into account an individual’s financial circumstances. An assessment should be made as to whether the information is appropriate in individual circumstances and consideration should be given to talking to a financial advisor before making an investment decisions.