DDR mustn’t threaten banking sector stability

Friday, 12 May 2023 04:37 - - {{hitsCtrl.values.hits}}

Port City Economic Commission and Board of Investment Chairman Dinesh Weerakkody yesterday said that a potential Domestic Debt Restructuring (DDR) shouldn’t threaten banking sector stability.

“Those in the driving seat must necessarily take a careful look at the impact on the banking sector capital and liquidity in a potential Domestic Debt Restructuring and minimise the risk of impact to the sector,” he said.

“The banking sector will have to play an active role in Sri Lanka’s economic revival process and therefore the debt restructuring must not in any way threaten the stability of banks and erode public confidence in what the banks principally stand for in the minds of the greater masses – a safe haven for the public’s savings,” emphasised Weerakkody who served as Chairman of the largest two private Commercial Banks and Chaired the Banking Sector Consolidation Committee in 2015/16

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