Skip to content
Subscriber Only

Credible Deficit Plan to Help Sri Lanka Sell $3 Billion of Bonds Annually

  • Sri Lanka sold most sovereign dollar debt after China in 2019
  • Ratings key to selling debt at lower yields, central bank says
Gotabhaya Rajapaksa 

Gotabhaya Rajapaksa 

Photographer: Jewel Samad/AFP via Getty Images

Updated on

Sri Lanka must come up with a plan to narrow its budget deficit as the top Asian issuer of sovereign dollar debt after China this year prepares to sell $3 billion of bonds annually.

The island-nation, which elected Gotabhaya Rajapaksa as its president last week, has to raise debt commercially to service earlier borrowings, Central Bank Senior Deputy Governor Nandalal Weerasinghe said.