Sunday, February 5, 2023
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President to appoint 08-Member Committee to negotiate with China and India on debt restructuring

President Ranil Wickremesinghe has decided to appoint an 08-member Committee to negotiate with China and India in the process restructuring Sri Lankan debt in compliance with the instructions of the International Monetary Fund (IMF) and the agents of the World Bank (WB), official sources confirmed.

Accordingly, envoys from the IMF and the WB have emphasised the necessity to expedite the debt restructuring process to President’s Chief of Staff Sagala Ratnayake, during a recently held meeting. It is in this backdrop has a new Committee been appointed on the instructions of the President.

The Committee comprises of Foreign Minister Ali Sabry, State Minister of Finance Shehan Semasinghe, President’s Chief of Staff Sagala Ratnayake, President’s Secretary Saman Ekanayake, President’s Advisor Dr. R.H.S. Samaratunga, Governor of the Central Bank of Sri Lanka (CBSL) Dr. Nandalal Weerasinghe, Treasury Secretary Mahinda Siriwardena and former CBSL Governor Dr. Indrajith Coomaraswamy, and is expected to intervene on the negotiations with China and India to uplift the process of debt restructuring to a point of progress.

MIAP

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