Debt Restructuring Risk of Collapse

Former President Ranil Wickremesinghe said yesterday that the case filed by the Hamilton Reserve Bank, if defeated, could disrupt the debt restructuring process in Sri Lanka.

“If the case is lost, Sri Lanka will have to pay 300 million dollars to Hamilton Bank.

Hamilton Bank has reopened the case after the government notified the IMF that it intends to revise the debt restructuring process.

The important point is that other international sovereign bond holders may file lawsuits against Sri Lanka just like the Hamilton Reserve Bank did. What happens to the debt restructuring process in such a situation? What will happen to the economy in such a situation.” He questioned in an election meeting held in Kalutara.

“Also, the government should inform the people of the correct position regarding the IMF agreement. A Sri Lankan delegation held talks with the International Monetary Fund in Washington recently.

President Anura Kumara Dissanayake avoids talking about debt restructuring and the economy. But he is only talking about how I bought cashews worth millions. “If I had eaten that many cashews, I should be in the hospital,” said the former president.
Send feedback
Side panels
History
Saved