News > Sri Lanka announces $1 billion economic relief package; won't default on debt, says finance minister

Sri Lanka announces $1 billion economic relief package; won't default on debt, says finance minister

Firstpost | 04/01/2022 04:30 PM | Click to read full article

The Sri Lankan government on Tuesday announced a USD 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 USD 500 million international sovereign bond payment due in a fortnight, Finance Minister Rajapaksa told reporters here.