Country has to repay USD 15.38 bn in loans

by Saman Indrajith

The total amount Sri Lanka would have to repay, at the end of the loan period, to countries and institutions, from which it obtained loans during the past 15 years, US $ 15,386.8 million, Parliament was told yesterday.

International Monetary Cooperation Minister Dr Sarath Amunugama said that Sri Lanka, during the last 15 years, had obtained loans from China, the US, India, IMF, World Bank, ADB, and the JBIC.

Accordingly, Lanka has to pay China US $ 4,901.6 million for obtaining loans amounting to US $ 2,962.2 million, the USA a sum of US $ 86.1 million for obtaining loans of US $ 33 million, India a sum of US $ 982.4 million for obtaining loans of US $ During the same period Sri Lanka has obtained grants amounting to US S 1,132.4 million which the country does not have to pay back, the minister said.

The minister was responding to a question raised by UNP Colombo District MP Ravi Karunanayke.