The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookiesbefore using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Weerasinghe returns to Sri Lanka’s central bank as country’s finances spiral

Photo: Reuters

With civil unrest, the resignation of half the cabinet and a standstill on sovereign debt repayment, Sri Lanka’s new finance minister, secretary to the treasury and governor of the Central Bank of Sri Lanka have a lot to do.


The economic crisis that has long been building in Sri Lanka erupted into civil unrest and national emergency during late March and early April. Imported food and fuel is becoming scarce, the government is under fire, and the finance ministry has stopped making payments on its international sovereign bonds and must go to the IMF to seek a restructuring. A new central bank governor, called back from retirement, has a lot of work to do to get things back on track.

At the heart of the problem is an unsustainable level of public debt, which has been rising steadily for 10 years and today stands at about 120% of GDP.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?


Chris Wright head.jpg
Asia editor Euromoney
Chris Wright is Asia editor. He covers the Asia Pacific region and is based in Singapore. He has previously been Middle East editor of Euromoney, editor of Asiamoney, investment editor of the Australian Financial Review and a correspondent on emerging markets and sovereign wealth for numerous publications worldwide. He has also written two books.