Sri Lanka is among countries with a rising interest burgen, the International Monetary Fund (IMF) warned this week.
“Many economies saw rising interest burdens, which exceeded 20 percent of total revenue in 2018 in Egypt, Pakistan, and Sri Lanka,” the IMF said in its latest Fiscal Monitor report.
“As a result, emerging market economies have become vulnerable to rollover risks if they face large financing needs.”
The IMF urged countries like Argentina, Sri Lanka, China and Turkey to end tax exemptions and improve administrative efficiency in order to generate increased revenues.