Sri Lankan auto rickshaw drivers queue up to buy petrol near a fuel station in Colombo, Sri Lanka, April 13, 2022. (PHOTO / AP）
COLOMBO – Sri Lanka's domestic debt optimization program was approved by the parliament's Committee on Public Finance (COPF) by a majority on Friday.
Issuing a statement, the parliament said extensive discussions on domestic debt restructuring were held at the COPF.
The COPF is one of three parliamentary legislative committees evaluating external audit reports and other public finance information
The parliament said discussions were held on Thursday separately with Central Bank Governor Nandalal Weerasinghe, Treasury Secretary Mahinda Siriwardana, and officials representing the Ministry of Finance, Economic Stabilization and National Policies during the first half of the meeting.
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Discussions were held on Friday with creditors, including banks, superannuation funds, and insurance funds to obtain perspectives during the second half of the meeting.
The COPF is one of three parliamentary legislative committees evaluating external audit reports and other public finance information.
The domestic debt restructuring plan needed to be presented and passed at COPF before being presented to the parliament on Saturday.
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The domestic debt restructuring program, proposed by the Finance Ministry, was approved by Sri Lanka's cabinet on Wednesday.