Sri Lanka’s debt set to increase by $2.6 billion – FSP

Sri Lanka’s national debt is expected to rise by an additional $2.6 billion through this year’s budget, said the Frontline Socialist Party (FSP).

Speaking at a public rally, FSP education secretary Pubudu Jayagoda raised concerns about the escalating debt burden, highlighting that while the International Monetary Fund (IMF) provided a loan of $2.9 billion to Sri Lanka, the current government will add another $7 billion more to the nation’s debt.

Jayagoda also pointed out that the government has agreed to pay an additional 4% interest on debt that Sri Lanka is unable to service.