The domestic debt restructure is needed to help the country reach the IMF programme goal of reducing overall debt to 95% of GDP by 2032.
WHAT WILL THE DOMESTIC DEBT RESTRUCTURING INCLUDE?
"We are asking foreign debt holders for a 30% haircut but that is still under discussion," Weerasinghe said.
This will be implemented in Phase 2 of the domestic debt restructuring.
Aiming to contain any potential market volatility, Sri Lanka declared a five-day holiday from June 29 to July 3.
Persons:
Read, Nandalal Weerasinghe, Weerasinghe, Mahinda Siriwardana, CBSL, Uditha Jayasinghe, Shilpa Jamkhandikar, Kim Coghill, Emelia
Organizations:
International Monetary Fund, IMF, Sri Lanka Development, Bank of Sri, Treasury, Sri, Thomson
Locations:
Colombo, Sri Lanka, Britain, Bank of Sri Lanka, China, Japan, India