Today, the attention of many people is focused on the local debt restructuring process to be implemented by the government in the future. Especially the lack of transparency in how these loans are expected to be restructured is a sad situation.
For that, a program with a clear time frame should be presented to the country regarding the course of action to be followed. Or the uncertainty in the country about this will affect the entire economy of the country in a negative way. In particular, the government should present a clear and clear program to be implemented in relation to the Employee Provident Fund, the Central Bank of Sri Lanka, the local banking system and the Colombo Stock Exchange.
Accordingly, considering this as a problem of national importance, opposition leader Mr. Sajith Premadasa raised an issue today under standing order 27/2.
He also asked the government about their stand on the statement made by bankers association on the domestic debt restucturing and it advere effect that forseen by them?
After the president’s statment in the parliament that he would not hesitate to close the stockmarket has caused a threat of listed companies leaving the stok market has the governmet done any assesment of this risk factor?
Amount that is invested in treasury bill and bonds from the EPF? Does domestic debtresturcture include treasery bills and bonds.? If so how does this effect to EPF and the adverse effect that could beall upon the lifelong earnings of the workers?
As the custodian of the EPF government should have invested the moneys of the funds in better profitable ventures. He also made it point to reply to governments criticism that opposition only criticises don’t comeout with suggestions and said that Government should have refuse to domestic debt restucturing suggestion of IMF like many other countries has like 2105 Chad, 2002 Moldova, 2005 Dominican Republic, 2007 Iraq, 2007 Burles, 2010 Seychelles. 2017 Mongolia, 2020 Ecuador has done previousely and read alist of countries and tabled the document in the parliament.
