Sat, Jun 1, 2013, 12:03 am SL Time, ColomboPage News Desk, Sri Lanka.Image may be NSFW.
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May 31, Colombo: Sri Lanka's Central Bank reported that the total debt stock of the government increased by Rs. 866.7 billion in 2012 and stood at Rs. 6.0 trillion (US$ 47.4 billion) at the end of 2012. The debt amount comprised Rs. 3.2 trillion domestic debt and Rs. 2.8 trillion foreign debt.
The Central Bank, releasing its annual publication on "Public Debt Management in Sri Lanka, Performance in 2012 and Strategies for 2013 and beyond" Friday said it aims to reduce foreign currency debts to 30 percent of total outstanding debt by 2016 from 43 percent in 2012.
The Central Bank intends to implement a Medium Term Debt management Strategy (MTDS) over the next five-year (medium) term in order to achieve a 'desired' composition of the government debt portfolio.
Under the plan Sri Lanka intends to reduce the debt to GDP ratio by 20 percent from the 80.2 at the end of 2012 to 60.0 percent in 2017.
The strategy is aimed at ensuring that the government's financial needs are met at the lowest possible cost over the medium term, consistent with a prudent level of risk, the Bank said in the publication.
Clik here to view.
May 31, Colombo: Sri Lanka's Central Bank reported that the total debt stock of the government increased by Rs. 866.7 billion in 2012 and stood at Rs. 6.0 trillion (US$ 47.4 billion) at the end of 2012. The debt amount comprised Rs. 3.2 trillion domestic debt and Rs. 2.8 trillion foreign debt.
The Central Bank, releasing its annual publication on "Public Debt Management in Sri Lanka, Performance in 2012 and Strategies for 2013 and beyond" Friday said it aims to reduce foreign currency debts to 30 percent of total outstanding debt by 2016 from 43 percent in 2012.
The Central Bank intends to implement a Medium Term Debt management Strategy (MTDS) over the next five-year (medium) term in order to achieve a 'desired' composition of the government debt portfolio.
Under the plan Sri Lanka intends to reduce the debt to GDP ratio by 20 percent from the 80.2 at the end of 2012 to 60.0 percent in 2017.
The strategy is aimed at ensuring that the government's financial needs are met at the lowest possible cost over the medium term, consistent with a prudent level of risk, the Bank said in the publication.
