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Sri Lanka's debt could be reduced to 101 percent of gross domestic product by extending the maturity of domestic debt by 10 years, Verete Research, a think has said.
Sri Lanka government and government guaranteed domestic currency debt broadly considered in debt review has shrunk by a 19.6 billion US dollar equivalent as the economy inflated in the worst currency crisis in the history of the island's intermediate regime central bank.
Sri Lanka is yet to make a final decision on whether to re-structure domestic creditors participating in an online forum were told by authorities as inflation and depreciation almost halved the value of domestic debt and pushed up nominal tax revenues already.
Sri Lanka higher rates have brought results but full restoration of monetary stability is still eluding the credit system with forex shortages still persisting and interest rates are higher than they need be due to lack of a credible peg or clean float.