The government has presented a supplementary estimate to Parliament, requesting Rs. 3.213 billion to reimburse the Central Bank of Sri Lanka (CBSL) for payments made to financial and legal consultants involved in the country’s ongoing debt restructuring process.
During the parliamentary debate on the supplementary estimate, Samagi Jana Balawegaya (SJB) MP Kabir Hashim raised concerns about the government’s transparency in handling the debt restructuring process. He criticized the current administration, led by President Anura Kumara Dissanayake, by drawing a comparison with the previous government. “While Ranil Wickremesinghe’s government came to Parliament clothed with a plan to rebuild the country, today this government appears to come without any direction or preparedness,” he remarked.
Hashim underscored the need for parliamentary oversight in the debt sustainability process, particularly in relation to agreements with international sovereign bondholders. He stressed that the government must obtain parliamentary approval before implementing any debt sustainability agreements.
The MP also highlighted the importance of keeping Parliament and the public informed about the debt restructuring framework. He questioned whether the current administration intends to continue with the debt sustainability plan developed by the previous government or if it plans to negotiate a new agreement with creditors.
Hashim emphasized that transparency is essential to ensure that Sri Lanka’s debt restructuring is handled in a manner that protects the country’s financial stability and maintains public trust.
This debate comes at a critical time for Sri Lanka, which is navigating a severe economic crisis and working to secure international financial assistance. Successful debt restructuring is seen as a crucial step toward stabilizing the economy and restoring investor confidence.
4o
