Writing in Colombo Newspaper, Suhail Guptil said, Sri Lanka is persistently confronting twin shortfalls, that is, monetary deficiency and import/export imbalance during a significant piece of the last decade. Starting around 2014, the unfamiliar obligation level of Sri Lanka has been on the ascent and reached 42.6 percent of Gross domestic product in 2019.


Guptil clarified that the total unfamiliar obligation of the nation was assessed at USD 33 billion of every 2019, which puts a colossal weight on the country for obligation adjusting.


After this, few credit score organizations including Standard and Poor's, Moody's and Fitch downsized Sri Lanka's credit score to B from C, which makes it hard to acquire assets through Global Sovereign Bonds (ISBs), Guptil said.


The monetary emergency in Sri Lanka is essentially brought about by a low development rate, at present at four percent and colossal obligation administration reimbursement commitments and the circumstance is deteriorating.