A statement by Dr Nandalal Weerasinghe after the presentation of the technical report on the restructuring of local debt by the Central Bank Governor and other officials to the Cabinet has received much attention.
The Governor of the Central Bank announced on the 28th that the process of converting treasury bills into bonds would be launched from July 4th.
However, an official cabinet paper has yet to be approved regarding the related restructuring, and only the technical road map presented by the Central Bank has been approved. Also, serious doubts have arisen as to how the governor of the Central Bank will announce the timings for the launch of measures before obtaining the related parliamentary approval.
