Sri Lanka to settle Rs 726 bn as foreign debt in 2021

COLOMBO (News1st): Sri Lanka will have to settle foreign debt worth Rs 726 billion in 2021 amidst the depreciation of the rupee, state finance minister Ajith Nivard Cabraal said. "The value of the debt had arisen since the exchange rate of the rupee was not maintained," Cabraal said responding to queries by opposition parliamentarian S.M. Marikkar. The Samagi Jana Balawegaya lawmaker had questioned whether Sri Lanka would obtain more foreign debt to settle its existing liabilities. The selling rate of Sri Lankan Rupee stood at Rs 191.9 against the US dollar, central bank data show.