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Year 1998 Fiscal PositionPresident: Chandrika Bandaranaike Kumaratunga
Sri Lanka Debt Dossier 1998
Asian Financial Crisis impact slowed revenue growth, expanding debt-to-GDP to 89.6%.
Total Debt StockRs. 912.4 B
USD Equivalent$14.1 B
Debt / GDP %89.6%
Interest / Revenue35.2%
Inherited Debt Disclaimer
IMPORTANT: Government debt is cumulative. Outstanding public debt in any given year includes borrowing accumulated across all prior administrations. Inheriting existing debt is distinct from issuing new net borrowings.
Political & Fiscal Leadership (1998)
- Executive President:Chandrika Bandaranaike Kumaratunga
- Prime Minister:Sirimavo Bandaranaike
- Minister of Finance:Chandrika Bandaranaike Kumaratunga
- Population (Est):18.8 Million
Why Debt Changed in 1998
Reduced tea and garment export demand coupled with increased treasury bill yields.
Major Borrowing / Credit Events:
- JBIC Japan Power Sector Credit Line
Authoritative Verification Sources
CBSL Annual Report 1998(CENTRAL_BANK)
Verify at www.cbsl.gov.lk