Rs. 3,000 billion allocated for implementation of foreign debt restructuring and settlement of International Sovereign Bonds

A sum of Rs. 3,000 billion has been allocated by the 2024 budget for the implementation of foreign debt restructuring and settlement of International Sovereign Bonds.

Under the debt restructuring supported by the International Monetary Fund, Sri Lanka’s public debt as a percentage of GDP is expected to be reduced from 128 percent in 2022 to 95 percent in 2032. People will get the benefits of these savings. After the completion of the debt restructuring process, the overall macroeconomic stability and stability of the financial sector will be further strengthened.