Tag: Foreign debt

During 2015-2019, Sri Lanka’s economic growth had collapsed gradually from 7% to 2%. Although foreign debt increased by USD 15 billion, foreign reserves had reduced by USD 1 billion.

At the time when Hon. Mahinda Rajapaksa handed over the government, we had only 72% of foreign loans. However, soon after the Yahapalana government, when we came into power that percentage has been increased up to 96%. Therefore, we must say, it was during their 5-year tenure [Yahapalana government] have taken an enormous amount of loans.