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Sri Lanka remains burdened with a massive debt load, with USD 37 billion in foreign loans and Rs. 19.6 trillion in domestic debt still outstanding, according to the State Debt Management Office (SDMO).
The figures were revealed when SDMO officials appeared before the Committee on Public Finance (CoPF) to present updates on the nation’s current debt obligations.
During the meeting, Committee Chair Dr. Harsha De Silva questioned the officials about the total loan installments due this year. However, he expressed concern over their inability to provide the precise figures at the time.
Dr. De Silva emphasized the urgent need for skilled and qualified professionals within the State Debt Management Office to oversee debt acquisition and repayment strategies, noting that the office currently handles all such processes independently.
Sri Lanka continues to face severe financial pressure as it works toward stabilizing its economy following its 2022 sovereign debt crisis, which led to a temporary default on foreign loans.
