The Samagi Jana Balawegaya says Sri Lanka in 2022 has loan repayments amounting to USD 1.46 billion, that were obtained from local banks.
Speaking to media today, Parliamentarian Harsha de Silva warned that defaulting on such repayments would result in a black mark on the entire local banking system.
MP de Silva said 99% of the USD 2.3 billion in Sri Lanka Development Bonds were purchased by a private bank and a state bank.
The Parliamentarian added Sri Lanka will have to meet bond payments amounting to USD 60 million on the 6th of November, USD 23 million on the 9th, USD 15 million on the 17th and another USD 15 million on the 19th.
The MP claimed that Sri Lanka owes a total of USD 1.46 billion in loan repayments in the next 12 months.
He stated the USD sums were the savings of Lankan expatriates who worked hard for their country.
MP Harsha de Silva forecasted that the current economic crisis would evolve into a socio-political issue if the current trend continues.
He claimed that a US dollar is being sold at Rs.242 in the black market, significantly higher that the selling rate stipulated by the Central Bank of Sri Lanka.
The MP added the government must take precautionary measures before riots break out.