Sri Lanka can manage domestic debt peak in 2018: CB Governor

ECONOMYNEXT – Sri Lanka can manage a peak in domestic debt maturities in 2018 with a buffer build during the last few months, Central Bank Governor Indrajit Coomaraswamy said.

"The peak in domestic debt is this year," Coomaraswamy said told participants of an economic forum at Ceylon Chamber of Commerce in Colombo, Monday.

But have been able to build a buffer of about 110 (728 million US dollars) billion rupees in the last four five months of the 2017, where there were no maturities and we used that to go to the market and raise some money.

"And with the help of that buffer we feel we can manage the peak in domestic debt repayment profile in 2018."

Sri Lanka’s finance ministry is also expected to present a draft liability management bill to parliament shortly to allow the government to raise money in excess of the debt service and deficit and also switch maturities, he said.

A peak in foreign debt comes up in 2019 – 2022 period.  (Colombo/Jan22/2018)

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