Sri Lanka Central Bank Governor Assures Safeguarding of Public Deposits and Banking System in Debt Reorganization
Posted on May 11th, 2023

Courtesy Hiru News

Central Bank Governor Nandalal Weerasinghe said Sri Lanka’s public bank deposits and stability of the banking system will be safeguarded in any reorganization of domestic debt.

Governor Weerasinghe told a public forum, There is speculation about the stability of public deposits and banking system stability.

A key objective of the central bank is maintaining financial sector stability.

Sri Lanka has to at least extend the maturity of some domestic debt to meet International Monetary Fund annual financing ceiling in 2027-2032, which have to be brought down to about 13 percent from gross domestic product from the current 30 percent.

Sri Lanka banks have said they have received assurances on the effect of any debt re-structuring.

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