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Sri Lanka faces highest ever loan installment payment next week says Ranil

Sri Lanka’s prime minister told his parliament that Colombo faces its highest ever loan installment payment next week, as debts for the government continue to climb.

Ranil Wickremesinghe stated that a payment of US$ 2.6 billion is due on Monday, despite the government’s foreign reserves coming down to US$ 6.9 billion.

Colombo will be paying back close to US$ 5.9 billion in interest and principal payment for debt servicing alone throughout this year, reports Lanka Business Online.

See more from LBO here.