Sri Lanka announces $1 billion economic relief package; says won’t default on debt
The Hindu
Sri Lanka would duly pay the $500 million international sovereign bond payment due in a fortnight, Finance Minister Basil Rajapaksa told reporters in Colombo.
The Sri Lankan Government on January 4 announced a $1.2 billion economic relief package amidst a severe foreign exchange crisis even as Finance Minister Basil Rajapaksa claimed that the country will not default on its international debt despite the projection of rating agencies about its inability to meet the obligations.
Sri Lanka would duly pay the $500 million international sovereign bond payment due in a fortnight, Finance Minister Rajapaksa told reporters in Colombo.
He said that 229 billion Sri Lankan rupees ($1.2 billion) would be spent to accommodate the new economic relief package which includes, among other measures, a special allowance of ₹5,000 ($24) per month to 1.5 million government employees, pensioners and differently-abled soldiers from January 2022.
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