DDO strategy to be made public within two days – Finance Ministry

The Ministry of Finance states that the domestic debt optimization strategy will be made public within the next two days. 

Secretary to the Ministry of Finance Mahinda Siriwardana revealed that the relevant programme will be publicized on Monday (03) or Tuesday (04).

Furthermore, the program is also scheduled to be submitted to the other parties including the Employees’ Provident Fund (EPF), according to the minister.

The Resolution on Domestic Debt Optimization (DDO) was passed in Parliament with amendments yesterday (July 01), with a majority of 60 votes, with 122 votes in favour and 62 votes against. 

Accordingly, the Secretary General of Parliament Kushani Rohanadeera had informed the Secretary to the Ministry of Finance, in writing, that the DDO strategy was passed in Parliament.

A full-day special parliamentary session took place on Saturday, during which lawmakers debated the restructuring of local debt, initially proposed in a bid to achieve debt sustainability and economic recovery.

On 28 June, the Cabinet of Ministers unanimously approved the proposed domestic debt restructuring strategy for restoring sovereign debt sustainability.