Foreign media reports have emphasized that several banks in Sri Lanka have expressed their displeasure regarding the domestic debt restructuring program, which is a mandatory condition of the International Monetary Fund.
‘Yahoo’ news service says that Hatton National Bank and Commercial Bank have already expressed their displeasure in this regard.
Hatton National Bank has warned that domestic debt restructuring will damage banks’ capital, forcing banks to set aside more money to cover losses.
Mr. Sanath Manatunga, Chief Executive Officer of Commercial Bank, said, “The banking sector is already doing a lot of damage.
“For liquidity and statutory reasons, we have to have some bills and bonds. If it is also cut, the resilience of the industry may be lost,’ he said.
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https://finance.yahoo.com/news/sri-lanka-risks-imf-roadblock-031224703.html
