By Ceylon Signal 
Former President Ranil Wickremesinghe has cautioned that Sri Lanka will be required to resume major foreign debt repayments after 2028, and the International Monetary Fund (IMF) expects the country to maintain foreign reserves of USD 15 billion to meet those obligations.
He made these remarks while attending the launch of “Yudha Dekakata Ura Dee”, a book authored by former Minister Ranjith Siyambalapitiya.
Wickremesinghe noted that Sri Lanka’s current IMF programme is scheduled to conclude in March 2027, after which the country must demonstrate its ability to sustain repayments without falling back into crisis.
According to him, the Central Bank anticipates foreign reserves to reach USD 8 billion by the end of 2026. However, he stressed that Sri Lanka will still need to secure an additional USD 6 billion to meet IMF expectations.
He warned that the country’s most pressing challenge is preparing a credible plan to raise these funds, adding that failure to do so could expose Sri Lanka to the risk of another sovereign default.
Wickremesinghe also revealed that Sri Lanka has agreed to issue USD 3 billion in bonds as part of its debt‑repayment framework.
He criticised the lack of parliamentary debate on the looming debt burden, stating that political attention has been diverted to issues such as constitutional amendments and judicial retirement age reforms.
“The real battle ahead is the struggle to repay debt,” he said, describing it as a “third war” Sri Lanka must confront to avoid returning to bankruptcy.