Govt. hoping to restructure $17 bn foreign debts within 5-year term: President

27 June 2023 06:43 pm – 3      – 877

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The government is anticipating the restructuring of USD 17 billion out of a total of 41.5 billion of foreign debts within a 5-year term, President Wickremesinghe said today.

Speaking at the opening ceremony of the new building of the Gampaha District Secretariat, the President said local debt should also be restructured in line with this.

He assured that the restructuring of local debt will have no impact on the stability of the country’s banking system, including any state or private bank under the supervision of the Central Bank.

The President noted that the local debt restructuring will not affect the deposits in the banking system and will not affect any interest on bank deposits that are currently being paid.

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