Sri Lanka’s external debt in 2022 was US$ 58.7 billion: Word Bank Bond-holders and private creditors accounted for 72% of it

By P.K.Balachandran

Colombo, December 28:

The World bank’s International Debt Report 2023 put Sri Lanka’s external debt in 2022 at US$ 58.7 billion. Bondholders and private creditors accounted for 72% of the external debt, it added.

The break-up is as follows: Bondholders (32%); Other Commercial Creditors (8%); Private Creditors (40%); Multilateral Creditors (29%); Bilateral Creditors (31%); World Bank and International Development Agency (8%); Asian Development Bank (15%); China (16%); Japan (7%); India (5%); Other Bilateral Creditors (3%).

Down the Years:

I Total External Debt Stocks:

2010-US$ 21.6 billion; 2018-US$ 52.9 billion; 2019-US$ 56.1 billion; 2020-US$ 56.8 billion; 2021-US$ 58.7 billion; 2022-US$ 58.7 billion.

II Long-Term External Debt Stocks:  

2010-US$ 17.3 billion; 2018-US$ 43.1 billion; 2019-US$ 45.8 billion; 2020-US$ 46.5 billion; 2021-US$ 47.5 billion; 2022-US$ 47.7 billion.

III Short-Term External Debt Stocks:

2010-US$ 2.4 billion; 2018-US$ 8.1 billion; 2019-US$ 8.4 billion; 2020-US$ 8.3 billion; 2022-US$ 8.5 billion.

IV Principal Repayment Long Term:

2010-US$ 727 million; 2018-US$ 5.5 billion; 2019-US$ 4.4 billion; 2020-US$ 3.3 billion; 2021-US$ 3.0 billion; 2022-US$ 2.0 billion.

V Interest Payments Long Term:  

2010-US$ 616 million; 2018-US$ 1.5 billion; 2019-US$ 1.5 billion; 2020-US$ 1.5 billion; 2021-US$ 1.5 billion; 2022-US$ 780 million.

VI Use of IMF Credit and SDR Allocations:  

2010-U$$ 1.9 billion; 2018-US$ 1.5 billion; 2019-US$ 1.8 billion; 2020-1.9 billion; 2021-US$ 2.5 billion; 2022-US$ 2.3 billion.  

Glossary

External Debt Stocks comprise public and publicly guaranteed long-term external debt, private nonguaranteed long-term external debt, use of International Monetary Fund credit and special drawing rights allocation, and short-term external debt.

Long-Term External Debt is debt that has an original or extended maturity of more than one year and that is owed to non-residents by residents of an economy and is repayable in currency, goods, or services.

Short-Term External Debt has an original maturity of one year or less. Available data permit no distinctions among public, publicly guaranteed, and private nonguaranteed short-term external debt

SDR Allocations are reserve-related liabilities, distributed to member countries in proportion to their quota shares at the International Monetary Fund. The SDR (Special Drawing Rights) allocations are included in the gross external debt position and classified as long-term, special drawing right.

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