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Sri Lanka Says It Will Meet Debt Obligations and Continue Economic Stabilization Efforts

Sri Lankan President Anura Kumara Dissanayake has reaffirmed that the current government will remain in office through 2028 and will continue to honor the country’s foreign debt commitments. Presenting the 2026 Budget in Parliament, the President said the government is implementing a program aimed at securing long-term debt sustainability.

He noted that Sri Lanka is working to reduce its debt-to-GDP ratio to 95 percent. This year, foreign debt servicing totals USD 2.44 billion, of which USD 1.95 billion has already been settled by the end of September. A remaining USD 487 million is scheduled for payment before the end of 2025, marking an increase of USD 761 million from the previous year.

Debt servicing in 2028 is expected to reach USD 3.26 billion, an increase of USD 824 million compared to 2025.

The President highlighted that global credit rating agencies, including Fitch Ratings, Moody’s, and S&P, have gradually upgraded Sri Lanka’s ratings due to the progress made in economic recovery and restructuring. He added that most of the debt restructuring process is nearing completion, which has helped restore investor confidence domestically and internationally.

The government has also spent USD 1.3 billion on vehicle imports as of October 31. Meanwhile, SriLankan Airlines’ outstanding debt, now at USD 210 million, will be restructured by the end of the year, the President said.

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