SL will have to decide on restructuring domestic debt: President

26 April 2023 11:05 am Views - {{hitsCtrl.values.hits}} 4 Bookmark

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Claiming that the foreign debtors have proposed that Sri Lanka should restructure its domestic debt, President Ranil Wickremesinghe said today the government has not taken a final decision regarding this as yet.

Making a special statement in Parliament, he said however, when the discussions with foreign debtors are initiated, Sri Lanka would have to take a decision on restructuring its domestic debts.

He said no crisis would occur in local banks and the share market,as claimed by some, due to the restructuring of domestic debts and said the government would ensure that no injustice would be caused to members of the EPF as well.

The President said Sri Lanka would initiate discussions with foreign debtors separately where discussions with Paris Club and India would take place on one platform and a separate discussion would take place with China.(Ajith Siriwardana and Yohan Perera)

Comments - 4

Man Wednesday, 26 April 2023 01:06 PM

To do away the need to pay back by forcing to write off. What else?

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Natalie Nanayakara Wednesday, 26 April 2023 02:05 PM

First return you cut from the $250 million you received from the rajapaksas.

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Adwani Wednesday, 26 April 2023 03:43 PM

Domestic Debt restructuring means pay less and after deuctions, already SL lost status of borrowing in the international market and local status for borrowing too will be lost.

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Reformist Wednesday, 26 April 2023 03:57 PM

Why should only foreign creditors bear the cost of incompetent and corrupt government decisions? It is also a lesson to all creditors not to provide any credit to corrupt and incompetent governments like SL. Ultimately the buck should stop with corrupt regimes. It is not as if there are no other stable and well governed countries in the world to give funds. Creditors: stay away from corrupt countries like SL.

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