Bestweb 2018
Bestweb 2018

What is the reason to rush the Debt Management Bill? (VIDEO)

What is the reason to rush the Debt Management Bill? (VIDEO)

Written by Lahiru Fernando

17 Jan, 2018 | 10:33 pm

Tuesday – January 16, 2018: The Cabinet of Ministers decided to publish the proposed ‘Debt Management Bill’ in the gazette.

Cabinet also decided to present it in Parliament for approval.

Through this new bill -Sri Lanka’s public debt sustainability is to be managed at a national level.

Following a proposal made by Prime Minister Ranil Wickremesinghe, the cabinet granted approval to publish this bill in the gazette and to submit it for parliament approval.

Foreign liability management becomes an immediate priority as the economy is facing the largest ever foreign debt servicing requirements, clustered during 2019-2022.

Who controls the debt in Sri Lanka?

Is it the Government?
Is it the Central Bank?
Or is it the Prime Minister?

What is the reason to rush this legislation?

Is it a good idea to go ahead with such a decision given the CBSL’s recent track record?

Has President Maithripala Sirisena approved this proposed legislation?