Inflation ( CCPI)1.5% (April 2024)
GDP4.5% (4Q 2023)
Unemployment4.3% (4Q 2023)
3M T-Bill Rate8.76%
12M T-Bill Rate9.29%
2Y T-Bond Rate10.00%/ 10.05%
4Y T-Bond Rate10.70% / 10.80%
USD/LKR299/300
Reserves $5.438Bn (April 2024)
Cum. Trade Deficit $1,229 Mn (March 2024 cumulative)
Cum. Fiscal DeficitLKR 2,320 Bn (Dec 2023)

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.

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