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According to the Asian Development Bank, the population of Sri Lanka was 19.71 million in 2015. In 2014, 6.7% of the country lived below the national poverty line. During the same year, it was also reported that 50.5% of the population aged 15 years and above were employed. [6]
In the second quarter of 2020, Sri Lanka's GDP was estimated to have contracted by 16% the biggest quarterly fall on record and expanded by 2% in the third quarter. In the first nine months of the year, GDP was estimated to have contracted 5%. [118] After growing 5.0% in 2015, growth fell to 4% in 2016, 4% in 2017, 3% in 2018 and 2% in 2019. [119]
The second table lists countries by the percentage of the population living below the national poverty line—the poverty line deemed appropriate for a country by its authorities. National estimates are based on population-weighted subgroup estimates from household surveys. [9] Definitions of the poverty line vary considerably among nations.
Sri Lanka's president said Wednesday that he is seeking a loan repayment moratorium until 2028 as the debt-ridden county tries to emerge from bankruptcy. President Ranil Wickremesinghe told ...
By 2024, Sri Lanka re-entered the path of economic growth, with a renewed focus on sustainable development. [149] Sri Lanka has met the Millennium Development Goal (MDG) target of halving extreme poverty and is on track to meet most of the other MDGs, outperforming other South Asian countries. Sri Lanka's poverty headcount index was 4.1% by 2016.
Pledging to put its mammoth debt burden on a sustainable track, Sri Lanka locked down a $2.9 billion bailout from the International Monetary Fund (IMF) in March, which is due for a first review in ...
[1]: 81 A debt instrument is a financial claim that requires payment of interest and/or principal by the debtor to the creditor in the future. Examples include debt securities (such as bonds and bills), loans, and government employee pension obligations. [1]: 207 Net debt equals gross debt minus financial assets that are debt instruments.
More than 30 asset managers holding Sri Lanka's international bonds announced on Tuesday the formal launch of a creditor group to start debt restructuring talks with the island nation, according ...