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Sri Lanka’s special cabinet meeting has unanimously approved the government’s Domestic Debt Restructuring (DDR) plan under which the cash-strapped government aims to restructure USD 17 billion out of the total USD 41.5 billion external debt over five years.
“The proposed Domestic Debt Restructuring programme proposed by the Finance Ministry has been approved by the special cabinet meeting,” a statement by the President Ranil Wickramasinghe’s Office said.
“All government MPs were notified a short while ago at the presidential secretariat. Next, the proposal will be submitted at the next parliament session for discussion”, the statement said.
