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Debt no longer sustainable. Domestic debt restructuring mandatory? (VIDEO)

The International Monetary Fund (IMF) revealed in its report that Sri Lanka’s debt is no longer sustainable, said Samagi Jana Balawegaya (SJB) MP Harsha De Silva, speaking to a briefing held today (26).

The government was being told of the necessity of debt restructuring since November, 2020, the Opposition MP reminded.

Former Governor of the Central Bank of Sri Lanka (CBSL) Indrajith Coomaraswamy had warned not to agree to restructure the domestic debt, for any action of such nature would have affected the Employees’ Provident Fund (EPF), Dr. Silva added.

The Opposition MP further noted that most of the domestic debt exists through the EPF and that any interference would affect the money of the working people of the country. Therefore, the government should now be holding discussions for domestic debt restructuring, he added.

MIAP

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