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Year 2007 Fiscal PositionPresident: Mahinda Rajapaksa
Sri Lanka Debt Dossier 2007
Sri Lanka issued its inaugural $500 Million International Sovereign Bond (ISB), accessing commercial capital markets.
Total Debt StockRs. 3,041.8 B
USD Equivalent$27.9 B
Debt / GDP %85%
Interest / Revenue34%
Inherited Debt Disclaimer
IMPORTANT: Government debt is cumulative. Outstanding public debt in any given year includes borrowing accumulated across all prior administrations. Inheriting existing debt is distinct from issuing new net borrowings.
Political & Fiscal Leadership (2007)
- Executive President:Mahinda Rajapaksa
- Prime Minister:Ratnasiri Wickremanayake
- Minister of Finance:Mahinda Rajapaksa
- Population (Est):20.1 Million
Why Debt Changed in 2007
Graduation to lower-middle income status reduced eligibility for World Bank IDA soft loans, requiring market-based borrowing.
Major Borrowing / Credit Events:
- Inaugural 5-Year Sovereign Bond US$ 500M @ 8.25%
Authoritative Verification Sources
CBSL Annual Report 2007(CENTRAL_BANK)
Verify at www.cbsl.gov.lk