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Because so many competing interests are involved, Sri Lanka’s debt crisis mess will be much harder to unscramble. However, what’s abundantly clear is that loans from China aren’t the biggest problem. Around 15% of Sri Lanka’s foreign currency loans are from China, and most are at low interest rates and have long repayment periods.
Who then is causing a debt crisis?

In barely a decade since its first dollar loan, Sri Lanka has racked up $15 billion in International Sovereign Bonds. This is the equivalent of 54% of all foreign debt. Approximately $5.9 billion of those and other loans have to be repaid in 2019, and similarly large repayments are due over the next two years. Clearly Sri Lanka has binged on dollar loans from international financial markets, and poorly sequenced their maturity.

How Sri Lanka’s debt profile has changed also tells the tale of its rising costs, and it is this, and not necessary Chinese entrapment, that is causing Sri Lanka’s crisis. Debtoholic, our cover story, explores Sri Lanka’s severing debt crisis.

Echelon Magazine Description:

Intelligent Storytelling

The one thing that will define the Echelon magazine will be the quality of the storytelling. Echelon,published monthly, will cover in depth Sri Lanka’s most successful businesses, examine their winning strategiesand profile their leaders in immersive stories. Great stories are also never limited to words, and our approach includes rich photography, bold graphics and leading edge design which together will make for a compelling read.

But business doesn’t start and end in a boardroom;it extends to the golf club greens, to international travel and to pursuits that blurthe lines between commercial venture and sheer passion. The Echelon team will present the best in business and lifestyle coverage that will appeal to an exclusive and affluent readership: an otherwise hard to reach demographic.

Content will be developed by one of the most experienced and proven teams of editors, financial journalists, photographers and designers in the country.This team has already raised the bar for powerful and expertly crafted business news. Shamindra Kulamannage, will lead the editorial team.

The reputation of Echelon is being built on the separation between editorial and advertising. However we are also looking for the most creative and impactful new formats that can be applied in our magazines, iPad app as well as website to help our clients reach our audience. We are flexible and creative and we will have a solution for every single advertiser who wants to reach our audience.

We are passionate about creative results and about working with our advertisers to help them create bespoke multi platform creative solutions with our in house creative team and of course our sales team.

Echelon will be a great place to show off the products and capabilities of our clients because they will be surrounded by an editorial product that is expertly crafted, full of integrity and intelligence.