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Ranil says Sri Lanka will be debt free by 2020

Sri Lanka's prime minister, Ranil Wickremesinghe pledged the country would be debt free of the debt burden by 2020, Colombo Page reported. 

Speaking at an event by the Ministry of Housing, Mr Wickremesinghe said, "the government's intention in the next two years is to create an economy with the debt burden is stabilised and increasing income enabling to repay the debt in the future."

"What we have done during the past two years is taking the country out of the debt trap," he added. 

"The country still has no strength to repay the loans in time but a good program has been initiated and it is succeeding not because of government's economic management but because of the good relationships president Maithripala Sirisena's government maintains with the international community."

"When the economy develops, employment increases, income increases, houses increase and the education improves."

"There will be a country fast developing and free of debts," he added.