The government has settled over $ 1.9 billion in foreign debt and interest payments between President Ranil Wickremesinghe’s assumption of office and February 2024, according to Rajith Keerthi Tennakoon, President’s Director General of Community Affairs.
In a statement issued on Friday, Tennakoon revealed that in the same period, the government has disbursed more than $ 1.3 billion in multilateral loans and interest, with no outstanding arrears in loan installments or interest payments.
According to the Department of External Resources, payments totaling $ 760.1 million have been made to the Asian Development Bank and $ 7 million to China-led Asian Infrastructure Investment Bank.
During this period, $571 million worth of bilateral loans and interest have also been settled.
The government is also actively engaged in restructuring business loans and interest running over $4.4 billion acquired at high-interest rates.