At a meeting of the Committee on Public Finance chaired by MP Harsha de Silva, officials from the State Debt Management Office revealed that Sri Lanka’s outstanding foreign debt stands at USD 37 billion, while domestic debt amounts to Rs. 19.6 trillion.
The officials had been summoned before the committee to present an update on the current status of government borrowings. However, when questioned by the chairman about the exact loan installments due for repayment this year, they were unable to provide the precise figures.
MP de Silva expressed dissatisfaction over the lack of preparedness and underscored the need to strengthen the State Debt Management Office with qualified personnel capable of managing the country’s borrowing operations efficiently. He pointed out that all loan acquisition processes are currently handled by the office, making the need for expertise even more critical. (Newswire)