Mr. Wasantha Athukorala, Senior Professor of the Department of Economics and Statistical Studies at the University of Peradeniya, said that the government is currently working on the amount of 10,589 million dollars received bilaterally for restructuring. (Sri Lanka Latest News)
So far, the amount of foreign debt obtained by the government is 37,041 million dollars, of which 40% are commercial loans, 32% are loans obtained from multilateral institutions, and 28% are bilateral loans.
In this, the amount of loans received from 15 member countries of the Paris Conference is 4,228 million dollars (40%), while 6,361 million dollars (60%) have been received from 7 countries not members of the Paris Conference.
It is reported that the government has negotiated with these bilateral creditors and agreed to extend the repayment period of nearly 10 billion dollars.
But this will not change the country’s overall debt burden, and the current debt burden will only be shifted to the future, the professor said.
