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Sri Lanka yet to finalise restructuring domestic debt

18 Jun, 2023

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Sri Lanka is yet to finalise restructuring its domestic debt, State Minister of Finance Shehan Semasinghe said.

Semasinghe tweeted saying that the Government is fully committed to ensure the stability of the banking and financial sector.

He said that premature speculations without a conclusion could potentially undermine market confidence.

“The process of domestic debt optimization is not finalized yet. The govt is fully committed to ensure the stability of the banking and financial sector. Recognizing the sensitivity, premature speculations without a conclusion could potentially undermine market confidence,” the Minister said.

The Minister noted that is of importance that they speak on this matter responsibly and diligently.

“We have made progress in engaging with our bilateral creditors on debt restructuring efforts. We are optimistic that the engagements will lead to a favorable agreement to achieve stability,” the Minister added.

Sri Lanka is required to restructure its debt with international creditors and its local debt as part of a deal with the International Monetary Fund (IMF). (Colombo Gazette)

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