The Cabinet of Ministers has granted approval for Sri Lanka’s domestic debt restructuring programme.
The approval was granted during the Cabinet meeting held this evening.
Sri Lanka is in the midst of debt restructuring discussions with its international creditors. The authorities have also taken measures to restructure domestic debt to mitigate the country’s economic crisis.
Earlier this week, Central Bank Governor Dr. Nandalal Weerasinghe assured local depositors of the safety of their deposits, adding that interests will not be affected due to the domestic debt restructuring.
Meanwhile, President Ranil Wickremesinghe, yesterday assured that the restructuring of the local debt will have no impact on the stability of Sri Lanka’s banking system, including any state or private bank under the supervision of the Central Bank.
President Wickremesinghe also noted that the local debt restructuring will not affect the deposits in the banking system.
He also said that restructuring of domestic debt will not affect the member balance of any superannuation funds, including the EPF, ETF & the rate of return of superannuation funds that have been paid in the past.
President Wickremesinghe further assured that it will also not affect any interest on bank deposits that are currently being paid. (NewsWire)
