Will expedite debt restructuring process: CBSL Governor

COLOMBO (News 1st); The newly appointed Governor of the Central Bank of Sri Lanka (CBSL), Nandalal Weerasinghe states that the Central Bank will expedite the debt restructuring process in the country.

Speaking during a press conference held at the Central Bank, the newly appointed governor explained his future plan of action with regard to IMF meetings.

According to him, a virtual meeting has been organized on the date which the meeting was to take place with the IMF managing director, and although Finance Minister Ali Sabry tendered his resignation, the President has not accepted it, he will be present at the meeting. 

However, even if the Finance Minister is not present, the newly appointed Finance Secretary will be present at the meeting, he added.

The Monetary Board of the Central Bank of Sri Lanka today increased the policy interest rates by 7%.

Accordingly, the fixed deposit facility rate is 13.5%, while the fixed loan facility rate has been increased to 14.5%.

Bank interest rates will also rise in line with the increase in the policy interest rate.