July 1, 2023 9:14 PM

Sri Lanka's parliament approves motion granting authority to Finance Minister to restructure country's domestic debt

Sri Lanka's parliament has approved a motion granting authority to the Finance Minister to restructure the country's domestic debt. Speaker of Sri Lanka’s Parliament Mahinda Yapa Abeywardena announced that the motion was passed with 122 votes in favor and 62 against. The opposition, however, voted against the motion, citing concerns about the extension of government bond maturities held by the Employees Provident Fund and the central bank. Opposition members argued that beneficiaries...