Sri Lanka has decided to temporarily suspend all foreign debt settlements.
The Governor of the Central Bank Dr. Nandalal Weerasinghe stated at a media briefing this morning that foreign debt settlement is a challenging and unrealistic situation.
Therefore, they stated that this step was taken to restructure those settlements to prevent a large default.
However, the Governor of the Central Bank emphasized that this was a temporary measure and would continue until an agreement was reached with the creditors with the assistance of the International Monetary Fund.