Foreign as well as domestic debt restructuring proposals to be submitted to Cabinet on Wednesday – President

President Ranil Wickremesinghe assured that the restructuring of domestic debt will have no impact on the membership balance of any public funds, including the Employees’ Provident Fund (EPF). He emphasized that the rate of return for superannuation funds will not be affected in any way.

Furthermore, the President stated that the restructuring of domestic debt will not pose any threat to the stability of the country’s banking system, whether it be public or private banks. He specifically mentioned that the deposits of more than 50 million bank depositors will remain unaffected, and there will be no changes to the current interest rates paid on bank deposits.

President Ranil Wickremesinghe also announced that proposals for restructuring both foreign and domestic debt will be presented to the Cabinet tomorrow (28).