Sri Lankan central bank postpones sovereign debt repayment

Sri Lanka Central Bank HQ building
The Central Bank of Sri Lanka
Amithasundar

Sri Lanka will postpone sovereign debt repayments, its newly appointed central bank governor announced, days after raising policy rates by 700 basis points.

“It has come to a point that making debt payments are challenging and impossible,” P Nandalal Weerasinghe told a press conference today (April 12). Sri Lankan president Gotabaya Rajapaksa appointed Weerasinghe on April 5 after central bank governor Ajith Nivard Cabraal resigned, along with most of the government’s ministers.

Weerasinghe

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