The Frontline Socialist Party claims that this year’s budget proposals will add approximately seven billion dollars to Sri Lanka’s existing debt burden.
Party Education Secretary Pubudu Jayagoda stated that while the International Monetary Fund (IMF) has provided Sri Lanka with only a $2.9 billion loan, the current government’s financial plans are set to increase the nation’s debt by an additional seven billion dollars.
Speaking at a local government election rally organized by his party, Jayagoda further warned that Sri Lanka has agreed to pay an extra four percent interest on unpaid interest, compounding the financial strain.
