(UTV|COLOMBO) – Even countries with relatively low levels of absolute debt may face repayment challenges if there are weaknesses in its economic structures and debt management institutions Minister of Finance and Mass Media Mangala Samaraweera told the delegation of the G-24 Technical Group on Tuesday (27).
Making his opening remarks at the G-24 Technical Group Meeting held at the BMICH, Colombo this morning the minister further said that The IMF forecasts the gross financing needs for 2018 in emerging and middle-income economies ranges from 4% to 43%of the GDP with an average of 10.4%. In many developing economies, a high proportion of this outstanding debt is held by non-residents.
Minister Samaraweera also add that this creates added complexities in the policy response and It is clear that Sri Lanka, like many developing nations, faces such refinancing risks in the coming years. This warrants a concerted and coordinated policy response to mitigate such risks.
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