More than 8.5 million Sri Lankans who are unable to settle debts due to increased interest rates and not being able to secure enough income to pay their debts have been listed in the Credit Information Bureau of Sri Lanka (CRIB).
In the last year and a half, the interest rates charged for loans from banks and other fiscal bodies has surged from 8.5 per cent to 18 per cent and the interest rates for leasing from 12 per cent to 34 per cent, making it impossible for a lot of people to repay their debt instalments and leasing instalments for houses and businesses.
MIAP
