Do not go for haircut on local debt restructuring: SJB urges Govt

26 April 2023 02:21 pm Views - {{hitsCtrl.values.hits}} 2 Bookmark

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While claiming that there is no debate over restructuring local debt, SJB MP Eran Wickramaratne said today the government should not go for a haircut on local debt for any reason and that it should ensure the stability of the banking system.

Speaking during the debate on the IMF report, he told Parliament that the government must not create any instability in the banking system through the local debt restructuring.

“We have no debate over restructuring local debt. The debate is on the way of doing it. The cure should always be better than the problem. If a cure is proposed by anybody, which is worse than the problem, we should resist it because we are going to get into a deeper problem. That is why we stand firmly on local debt restructuring. There are ways to do it. But, no way should a haircut be entertained,” he said.

The MP said foreign debtors have stressed that Sri Lanka should first restructure domestic debt and discussions on external debt could be discussed by September, 2023. “We urge the government not to tamper with the capital and aggravate the problem,” he said.

Wickremaratne said the SJB was ready to support the government to stabilize the banking system and urged the government not to take any decisions that are detrimental to the members of the EPF and ETF.(Ajith Siriwardana and Yohan Perera)

Comments - 2

Quolp Wednesday, 26 April 2023 11:19 PM

SJB should not try to grab positions in the ruling SLPP governed by Ranil who is an abled leader, unlike Sajith keeping back-step whenever he was called to take over the country being in critical situation. However, the country has improved little bit because of having kept away the SJB corrupt politicians.

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Man Thursday, 27 April 2023 09:36 AM

Ranil told that he did not have a fair solution other than subjecting to a hair cut to the loans of banks by forcing to write off, knowing very well that those will get liquidated putting all the savings of patrons in a disaster due to the Pandora grade plundering of them. So, a referendum must be held, on it if not a general election or the overdue local government election as he has not got a mandate to do so other than of (134-1).

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