Annual debt service around US $ 5 Bn: Dr. Nalaka Godahewa

Annual debt service around US $ 5 Bn: Dr. Nalaka Godahewa

Annual debt service around US $ 5 Bn: Dr. Nalaka Godahewa

Written by Amani Nilar

26 Apr, 2022 | 5:42 pm

COLOMBO (News 1st); The country may have a political issue and an economic issue, but we are assured that we can come out of this crisis, says Cabinet Spokesperson Dr. Nalaka Godahewa.

Speaking at the Cabinet briefing today (26), the Cabinet Spokesperson explained that while Sri Lanka has to pay about  USD 5 billion every year until 2026, past Governments only contributed to increase the debt burden while revenue generation is the only alternative.

He further stated that while the current Government attempted to resolve this crisis, it also had to face three other crises due to the COVID-19 pandemic, which affected is tourism, then foreign remittances and investments.

Therefore, the inflow of revenue got affected, he stated, adding that Sri Lanka is not scared and has nothing to hide. Dr. Godahewa acknowledged that while the country is undergoing political and economic issues, they are assured that with the appointment of a group of young ministers who are very capable and very determined, the Government is capable of fighting back, and come out of this crisis.

“We are seeking the support of our citizens as well as the international community to come out of this crisis. Therefore, we have nothing to hide. That is our message to the international community,” he added.

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