LNP - Sri Lanka makes $503 million in debt service payments in first half 2024

The external debt of the government as of end of June 2024 amounted to USD 37.5 billion, according to the Mid-Year Fiscal Position Report issued by Sri Lanka’s Finance Ministry. Total debt service payments from 1st January to 30th June in 2024 was amounted to USD 503.0 million, of which USD 275.1 million was in lieu of principal repayments and the balance USD 227.9 million for the interest payments, it said.  In line with the interim policy of the debt standstill adopted by the Government, the servicing of the external debt of affected loans obtained from bilateral and commercial creditors have been temporarily suspended for an interim period commencing from 12th April, 2022.  Accordingly, the principal amount of USD 5,670 million and interest of USD 2,527 million have been accumulated as unpaid debt service by the end of June 2024, the report added.