Friday, December 9, 2022

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There is no risk of bankruptcy – Central Bank Governor

The Governor of the Central Bank Ajith Nivard Cabraal states that despite various allegations that the country is in a state of bankruptcy, there is no such risk. Cabraal said that such a risk had been warned in 2020 as well, but no such situation had arisen so far.

He points out that the country has been declared to be bankrupt from time to time throughout history, but at no time has the country gone bankrupt.

He was speaking at a media briefing on ‘2022 Sri Lanka Economy: Challenges and Solutions’ currently being held at the Government Information Department.

Cabraal says that the repayment of foreign loans has also stabilized and there is no difficulty in repaying the loans. He said that at the beginning of 2021 they had only US $ 5 billion in reserves but by the end of the year, but they were able to repay 06 billion in loan installments.

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