Sri Lanka qualifies under ‘Less Indebted’ category in UN-ESCAP Classification

Tuesday, 26 March 2013 00:19 - - {{hitsCtrl.values.hits}}

Sri Lanka has qualified under the ‘Less Indebted’ category in five out of six external debt indicators in accordance with the parameters defined in the manual on Effective Debt Management of the UN-ESCAP, to assess the external debt vulnerability of a country.

The Central Bank said yesterday as indicated in the table, the only indicator in which Sri Lanka is placed in the ‘Moderately Indebted’ category (>30% and <50%) is ‘the Disbursed External Debt Outstanding to Gross National Income’ category, where Sri Lanka’s indicator value is 37%, which is marginally above the threshold level specified for the ‘Less indebted category’.

“In this context, it is noted that these values have been recorded by Sri Lanka at a time when public debt risks emanating from the global economic slowdown has been rising in many economies,” the Central Bank added.