"Debt Impossible: Case Sri Lanka "
Author of this article is Ruwanthi Jayasekara
Research Assistant (Intern) at the Institute of National Security Studies Sri Lanka
This research article does not reflect the stance of INSSSL or the Government of Sri Lanka
Sri Lanka’s foreign debt has grown, leading to a debt servicing problem as the country is obtaining more and more financial assistance.
Debt servicing is further hampered by low and slow yielding of investment projects where loans funds were invested and overall low economic growth numbers during the past four years.
According to the Annual Report of 2017 of Ministry of Finance, economy grew at 3.1% during the corresponding year and gross debt amount to 77.6% of the GDP.