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Year 2009 Fiscal PositionPresident: Mahinda Rajapaksa
Sri Lanka Debt Dossier 2009
End of 30-year civil war coincided with Global Financial Crisis reserve pressure; IMF approved $2.6B Stand-By Facility.
Total Debt StockRs. 4,161.4 B
USD Equivalent$36.2 B
Debt / GDP %86.2%
Interest / Revenue40%
Inherited Debt Disclaimer
IMPORTANT: Government debt is cumulative. Outstanding public debt in any given year includes borrowing accumulated across all prior administrations. Inheriting existing debt is distinct from issuing new net borrowings.
Political & Fiscal Leadership (2009)
- Executive President:Mahinda Rajapaksa
- Prime Minister:Ratnasiri Wickremanayake
- Minister of Finance:Mahinda Rajapaksa
- Population (Est):20.5 Million
Why Debt Changed in 2009
Peak military expenditure during final phase of war combined with foreign capital outflows during GFC.
Major Borrowing / Credit Events:
- IMF Stand-By Arrangement (SBA) US$ 2.6B
- Norochcholai Coal Power & Hambantota Port Phase I Loans (China Exim)
Authoritative Verification Sources
CBSL Annual Report 2009(CENTRAL_BANK)
Verify at www.cbsl.gov.lk