United People’s Alliance (UPFA) parliamentarian Patali Champika Ranawaka has said that the country will go bankrupt within the next month if the government does not take decisive action to recover from the financial crisis facing the country.
He added that the country would have to pay a total of $ 900 million by the first month of next year.
Speaking at the 43rd Brigade Lawyers’ Conference, he said Sri Lanka would have to pay $ 500 million in sovereign bonds by next month and $ 242 million in development bonds.
He also pointed out that the World Bank, the Asian Development Bank and JICA owe more than US $ 200 million and that the country has to repay a total of US $ 900 million by the first month of next year.
He said the country had only $ 1.15 billion in foreign reserves and would be forced to default if appropriate action was not taken.