IMF has not instructed Govt. to restructure domestic debt, says Harsha

Saturday, 24 June 2023 01:36 - - {{hitsCtrl.values.hits}}

Samagi Jana Balawegaya (SJB) MP Harsha de Silva in Parliament on Thursday said the International Monetary Fund (IMF) has not instructed the Sri Lankan Government to restructure domestic debt.

De Silva tabled a communique titled ‘Letter of Intent’ sent by President Ranil Wickremesinghe in his capacity as Minister of Finance to the head of the IMF. The MP pointed out that according to the document tabled it was the Sri Lankan Government that had written to the IMF on its opinion on restructuring domestic debt.

The MP said many MPs in Parliament are quite erroneously claiming the IMF had instructed the Government to restructure domestic debt.

“The IMF has merely noted that the debt load must be restructured. But has not provided any directives on the process” the MP said.

De Silva said the communique was signed on 6 March and despite the Government’s denials of restructuring domestic debt the letter is proof it had in fact taken an undertaking to do so.

“The undertaking is by the Government and not the IMF,” he noted.