Foreign debt repayment of $500 m tomorrow

News

Jan 17, 2022
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Sri Lanka is due to settle an International Sovereign Bond (ISB) repayment of US$500 million tomorrow, Tuesday January 18.

There has been a wide debate over the repayment with many economists suggesting that Sri Lanka should default payment and save the dollars for crucial essential imports of crude oil, drugs and food, which is more important than defaulting a debt payment. Central Bank Governor Ajith Nivard Cabraal has categorically said the payment will be made tomorrow.