Sri Lanka is highly dependent on international loans from multilateral and bilateral sources to finance infrastructure development. Multilateral and bilateral borrowing is often favoured by governments such as Sri Lanka ...

The published information on debt underestimates Sri Lanka’s overall external public debt burden and its distribution amongst external lenders. This problem arises because Sri Lanka’s reporting of external debt is limited ...

Multilateral and bilateral borrowing is often favoured by governments such as Sri Lanka because such financing tends to have ‘concessional’ elements, relative to the international financial markets. However, the cost ...

The report summarises Sri Lanka’s macroeconomic environment, analysing the 2012 budget and providing a comparative study of government expenditure. It finds that the focus of government expenditure has shifted from funding ...

This report presents an analysis of the contradictory nature of the Budget 2013 through increased assistance to the poor, while at the same time increasing their vulnerability. The analysis of Budget 2013, rather than ...

This presentation assesses the reasons for the current unprecedented crisis and the how the current crisis differs from the previous crisis Sri Lanka has been in. This presentation also assesses, the solutions for the ...

Sri Lanka’s credit rating has been downgraded 7 times over the course of 7 years. 5 of those downgrades occurred since April 2020. In contrast, its regional peers have maintained their credit ratings. The recent downgrade ...

Sri Lanka’s usable foreign reserves fell from USD 7,642 MN in 2019 to USD 1,579 MN by the end of 2021. When compared with Sri Lanka’s regional peers during the pandemic, the decline in its reserves appears to only have ...

The Debt Digest by Verité Research provides analytical commentary on the latest developments in Sri Lanka’s debt crisis. A key milestone in Sri Lanka’s path to recovery was the staff-level agreement with the IMF in September ...

The reported gross official reserves as of February 2022 stood at USD 2,311 MN, out of which 98% (USD 2,242 MN) consisted of short-term swaps maturing within 12 months. Whilst the quantity of reserves is important it is ...