The restructuring affects government bonds in line with an IMF bailout agreed in March. theSun theSundaily economy crisis debt SriLanka IMF
A vendor selling clothes waits for customers amid Sri Lanka's economic crisis, in Colombo, Sri Lanka, July 30 , 2022. REUTERSPIX: Sri Lankan authorities have declared a five-day closure of financial markets from Thursday ahead of a controversial move to restructure the government's domestic debt amounting to more than $51 billion.
Central bank governor Nandalal Weerasinghe said authorities had ordered that Friday will be a holiday, on top of existing religious holidays on Thursday and Monday and the weekend. Weerasinghe said deposits of individuals would not be affected, but the government plan is to restructure treasury bills and bonds held by commercial banks and pension funds.
More than $14 billion of the total foreign credit is bilateral debt to foreign governments, 52 percent of which is owed to China.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Neglected Thai elephant prepares for jumbo flight homeAn ailing Thai elephant is being prepared for an arduous journey home from Sri Lanka after a diplomatic dispute between the two Asian nations over the creature's alleged mistreatment.
Read more »
Neglected Thai elephant readies for jumbo flight homeAn ailing Thai elephant is being prepared for an arduous journey home from Sri Lanka after a diplomatic dispute between the two Asian nations over the creature’s alleged mistreatment.
Read more »
Anifah appointed Labuan Corporation ChairmanKOTA KINABALU: Senator Tan Sri Anifah Aman has been appointed Labuan Corporation Chairman, effective June 19.
Read more »
Pas bukan parti tunggang Islam - Abdul HadiKOTA BHARU: Presiden Pas Tan Sri Abdul Hadi Awang terus menegaskan parti itu tidak menjadikan Islam sebagai tunggangan untuk meraih sokongan rakyat dalam berpolitik.
Read more »
Subadron puas didik 300 'budak liar'Stadium yang diberi nama atas seorang tokoh sukan itu akan dibina di kawasan seluas 1.6 hektar di Fasa 9 Sri Gombak, Selangor.
Read more »
Sarawak Premier to make first official visit to New Zealand as regional Islamic council presidentKUCHING, June 25 — Sarawak Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg will be making his official visit to New Zealand as the president of Regional Islamic Da’wah...
Read more »