COLOMBO: Debt-laden Sri Lanka will unveil its domestic debt restructuring strategy this week, central bank chief P Nandalal Weerasinghe said on Sunday (Jun 25), as the island navigates its worst financial crisis in decades. Sri Lanka will also likely obtain Cabinet and parliamentary approval for the debt r
COLOMBO: Debt-laden Sri Lanka will unveil its domestic debt restructuring strategy this week, central bank chief P Nandalal Weerasinghe said on Sunday , as the island navigates its worst financial crisis in decades.
The government on Friday declared a special bank holiday which would last from Jun 29 to Jul 3 to protect against any market turbulence following the domestic debt rework announcement, local TV channel Ada Derana reported. The exact date of the domestic debt restructuring is yet to be officially announced.
Sri Lanka's economy was engulfed in its worst financial crisis in more than seven decades last year after its foreign exchange reserves dropped to record lows.
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