Sri Lanka has secured more than US$1.85 billion in foreign loans since the current government assumed office, according to information disclosed in Parliament.

The details were provided by the Ministry of Finance, Planning and Economic Affairs in response to a question raised by MP Dayasiri Jayasekara.

According to the Ministry, foreign loans totaling US$1.854 billion were obtained between the 2024 Presidential Election and May 5, 2026, excluding financial assistance received from the International Monetary Fund.

The funding was secured for 18 development projects that had been agreed upon prior to the Presidential Election and includes both bilateral and multilateral financing arrangements.

The Ministry stated that the loans were obtained from several countries, including Japan, South Korea, Saudi Arabia, Netherlands and India.

Meanwhile, Deputy Minister of Finance and Planning Anil Jayantha Fernando recently informed Parliament that Sri Lanka’s total outstanding debt currently stands at approximately US$102.02 billion.

Despite concerns over the country’s debt burden, Minister of Rural Development, Social Security and Community Empowerment Upali Pannilage stated that the government has succeeded in maintaining economic stability and achieving progress in key sectors.

However, former President Ranil Wickremesinghe offered a contrasting view, warning that the country could be heading towards a serious economic crisis.

Speaking at a recent meeting of the United National Party Working Committee, Wickremesinghe said the government is facing challenges across multiple sectors and cautioned that signs of economic deterioration may become increasingly visible in the near future.