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Year 2023 Fiscal PositionPresident: Ranil Wickremesinghe
Sri Lanka Debt Dossier 2023
IMF 4-Year EFF Approved ($3.0B); Domestic Debt Optimization (DDO) restructured superannuation fund T-bonds.
Total Debt StockRs. 28,680.5 B
USD Equivalent$88.5 B
Debt / GDP %114.2%
Interest / Revenue70.3%
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 (2023)
- Executive President:Ranil Wickremesinghe
- Prime Minister:Dinesh Gunawardena
- Minister of Finance:Ranil Wickremesinghe
- Population (Est):22.1 Million
Why Debt Changed in 2023
Tax policy reforms (VAT raised to 15%, PAYE restored) boosted revenue, helping reduce debt-to-GDP ratio.
Major Borrowing / Credit Events:
- IMF EFF Tranche 1 & 2 Disbursements ($660M)
- World Bank & ADB Budgetary Support ($700M)
Authoritative Verification Sources
CBSL Annual Report 2023(CENTRAL_BANK)
Verify at www.cbsl.gov.lk