Debt
How the loans grew
At the end of 2008 the central government owed Rs 3.59 trillion. At the end of 2025 it owed Rs 29.99 trillion. This page shows the loans year by year and what changed them.
The debt mountain
Total debt at the end of each year, split into rupee loans (domestic) and foreign loans. Dots mark changes in how debt is counted or in the loans themselves.
Domestic loans Foreign loans
Source: Central Bank of Sri Lanka. End of year, net of bank deposits.
Show data as a table
| Year | Domestic loans | Foreign loans | Net (Central Bank series) | Gross (PDMO series) |
|---|---|---|---|---|
| 2008 | Rs 2.14 trillion | Rs 1.45 trillion | Rs 3.59 trillion | Not available |
| 2009 | Rs 2.40 trillion | Rs 1.76 trillion | Rs 4.16 trillion | Not available |
| 2010 | Rs 2.57 trillion | Rs 2.02 trillion | Rs 4.59 trillion | Not available |
| 2011 | Rs 2.81 trillion | Rs 2.33 trillion | Rs 5.14 trillion | Not available |
| 2012 | Rs 3.32 trillion | Rs 2.77 trillion | Rs 6.08 trillion | Not available |
| 2013 | Rs 3.93 trillion | Rs 2.96 trillion | Rs 6.89 trillion | Not available |
| 2014 | Rs 4.37 trillion | Rs 3.11 trillion | Rs 7.49 trillion | Not available |
| 2015 | Rs 5.06 trillion | Rs 3.54 trillion | Rs 8.60 trillion | Not available |
| 2016 | Rs 5.43 trillion | Rs 4.05 trillion | Rs 9.48 trillion | Not available |
| 2017 | Rs 5.66 trillion | Rs 4.72 trillion | Rs 10.38 trillion | Not available |
| 2018 | Rs 6.07 trillion | Rs 5.96 trillion | Rs 12.03 trillion | Not available |
| 2019 | Rs 6.83 trillion | Rs 6.20 trillion | Rs 13.03 trillion | Not available |
| 2020 | Rs 9.07 trillion | Rs 6.05 trillion | Rs 15.12 trillion | Rs 15.21 trillion |
| 2021 | Rs 11.10 trillion | Rs 6.52 trillion | Rs 17.61 trillion | Rs 17.75 trillion |
| 2022 | Rs 15.03 trillion | Rs 12.46 trillion | Rs 27.49 trillion | Rs 27.65 trillion |
| 2023 | Rs 17.05 trillion | Rs 11.64 trillion | Rs 28.70 trillion | Rs 29.15 trillion |
| 2024 | Rs 18.31 trillion | Rs 10.43 trillion | Rs 28.74 trillion | Rs 29.62 trillion |
| 2025 | Rs 18.68 trillion | Rs 11.32 trillion | Rs 29.99 trillion | Rs 31.05 trillion |
What changed in how debt is counted
- 2019. Following IMF guidelines for compiling government debt statistics, non-resident holdings of Sri Lanka Development Bonds and International Sovereign Bonds are classified as foreign debt, and resident holdings as domestic debt. The Central Bank states this applies from 2019 onwards. CBSL Economic and Social Statistics of Sri Lanka 2021, Table 5.1, note (c)
- 2022-04-12. The Ministry of Finance announced an Interim Policy on the servicing of Sri Lanka's external public debt. Debt service payments that became overdue after this date are not included in the outstanding balance for 2022 onwards. CBSL Annual Economic Review 2025, Table 16, note (b)
- 2022-12. From December 2022 the foreign currency debt of the Ceylon Petroleum Corporation that the government had guaranteed was absorbed into central government debt. CBSL Annual Economic Review 2025, Table 16, note (i)
- 2023. From 2023 the way domestic debt is compiled was changed, and it is based on data confirmed by the Ministry of Finance. CBSL Annual Economic Review 2025, Table 16, note (d)
- 2024. The Public Debt Management Office was set up under the Ministry of Finance, as required by the Public Debt Management Act, No. 33 of 2024. It is now the official source for debt statistics, and the Central Bank compiles its table from the Ministry's data. CBSL Annual Economic Review 2025, Table 16, note
- 2024-2025. The 2024 and 2025 debt figures reflect the impact of external debt restructuring. As at the end of 2025, the Central Bank notes that external debt restructuring has been largely completed, except for a small remaining portion. CBSL Annual Economic Review 2025, Table 16, notes (g) and (v)
Why does the total go up or down?
New loans
When the government spends more than it collects, it borrows the difference. The official budget deficit is the amount that had to be borrowed that year.
The value of the rupee
Foreign loans are counted in rupees. When the rupee gets weaker, the same foreign loan is worth more rupees, so the total rises without any new loan. When it gets stronger, the total falls.
Loans restructured
Lenders and the government can agree to change the terms of loans. The Central Bank notes that the 2024 and 2025 figures reflect external debt restructuring.
Year-by-year loan statement
Debt at the start of the year, plus new loans to cover the budget deficit, plus all other changes, gives debt at the end of the year. Other changes are worked out as what is left over. They include exchange rate changes, restructuring, bank deposits and changes in how debt is counted.
Show data as a table
| Year | Debt at the start of the year | New loans (budget deficit) | Other changes (worked out) | Debt at the end of the year |
|---|---|---|---|---|
| 2009 | Rs 3.59 trillion | Rs 476 billion | +Rs 96.1 billion | Rs 4.16 trillion |
| 2010 | Rs 4.16 trillion | Rs 445 billion | -Rs 16.3 billion | Rs 4.59 trillion |
| 2011 | Rs 4.59 trillion | Rs 450 billion | +Rs 97.3 billion | Rs 5.14 trillion |
| 2012 | Rs 5.14 trillion | Rs 489 billion | +Rs 456 billion | Rs 6.08 trillion |
| 2013 | Rs 6.08 trillion | Rs 516 billion | +Rs 290 billion | Rs 6.89 trillion |
| 2014 | Rs 6.89 trillion | Rs 591 billion | +Rs 6.4 billion | Rs 7.49 trillion |
| 2015 | Rs 7.49 trillion | Rs 830 billion | +Rs 283 billion | Rs 8.60 trillion |
| 2016 | Rs 8.60 trillion | Rs 640 billion | +Rs 239 billion | Rs 9.48 trillion |
| 2017 | Rs 9.48 trillion | Rs 733 billion | +Rs 170 billion | Rs 10.38 trillion |
| 2018 | Rs 10.38 trillion | Rs 761 billion | +Rs 887 billion | Rs 12.03 trillion |
| 2019 | Rs 12.03 trillion | Rs 1.44 trillion | -Rs 438 billion | Rs 13.03 trillion |
| 2020 | Rs 13.03 trillion | Rs 1.67 trillion | +Rs 418 billion | Rs 15.12 trillion |
| 2021 | Rs 15.12 trillion | Rs 2.06 trillion | +Rs 439 billion | Rs 17.61 trillion |
| 2022 | Rs 17.61 trillion | Rs 2.46 trillion | +Rs 7.42 trillion | Rs 27.49 trillion |
| 2023 | Rs 27.49 trillion | Rs 2.28 trillion | -Rs 1.08 trillion | Rs 28.70 trillion |
| 2024 | Rs 28.70 trillion | Rs 2.04 trillion | -Rs 2.00 trillion | Rs 28.74 trillion |
| 2025 | Rs 28.74 trillion | Rs 745 billion | +Rs 511 billion | Rs 29.99 trillion |
Interest over time
In 2026 the Act sets aside Rs 2.62 trillion for loan interest alone.
Interest the Central Bank reports as actually paid, next to the estimate in each year's Act. They differ because the Act is a plan made before the year.
Actually paid Planned in the Act
Two ways of counting
Sri Lanka publishes two official debt totals. The Central Bank series is net of bank deposits (Rs 29.99 trillion at the end of 2025). The Public Debt Management Office series is gross (Rs 31.05 trillion). The gap is about Rs 1.05 trillion. This site uses the net series unless stated, so a figure you see elsewhere may differ.
- Central Bank of Sri Lanka, Economic and Social Statistics of Sri Lanka 2011, Table 10.1 Summary of Fiscal Operations 2001-2010
- Central Bank of Sri Lanka, Economic and Social Statistics of Sri Lanka 2021, Table 5.1 Summary of Fiscal Operations 2011-2020
- Central Bank of Sri Lanka, Annual Economic Review 2025, Table 16 Outstanding Central Government Debt (as at end year)
- Following IMF guidelines, non-resident holdings of Sri Lanka Development Bonds and International Sovereign Bonds are classified as foreign debt and resident holdings as domestic debt. The Central Bank states this applies from 2019 onwards (ESS 2021, Table 5.1, note (c)), so the split before 2019 may not be fully comparable. Totals are not affected.
- From 2023 the domestic debt compilation method was changed and is based on data confirmed by the Ministry of Finance (source note (d)).
- The 2022 to 2025 figures exclude debt service payments that became overdue after 12 April 2022 (source note (b)). The 2024 and 2025 data reflect the impact of external debt restructuring (source note (v)).
- 2024 and 2025 are provisional.