Economic analysts are warning that Sri Lanka’s debt restructuring program may go into crisis after the New York Federal Court decided in favour of the Hamilton Reserve Bank of America against the government of Sri Lanka’s default in paying its bonds.
They point out that due to this judgment, which was received even after the government’s debt restructuring program had started; a serious crisis may arise if some creditors take the judgment as a precedent and go before the court to demand payment of their debts.
Also, there has been a serious discussion in the economic field regarding the declaration of Sri Lanka’s bankruptcy within 4 days of Central Bank Governor Dr. Nandalal Weerasinghe assuming office.
Mr. Anura Kumara Dissanayake first disclosed this to the country.
He pointed out that Mr. Weerasinghe assumed the position on Friday and declared the country’s bankruptcy on Tuesday, and serious doubts have arisen after that.