EABER/SABER Newsletter May 2016

EABER/SABER Newsletter May 2016

May, 2016
Iromi Dharmawardhane
Sri Lanka’s balance of payments is in dire straits. The country’s mounting foreign and domestic public debt, a huge fiscal deficit and a severe foreign exchange shortfall have led to potentially calamitous economic circumstances. Sri Lanka has not yet secured the means to meet its upcoming foreign loan repayments — US$4.5 billion is due over the next year, to be followed by another US$4 billion in the subsequent year.
Iromi Dharmawardhane is Research Associate at the Institute of South Asian Studies (ISAS) at the National University of Singapore.