SC APPROVES DEBT SERVICING BILL | Daily News

SC APPROVES DEBT SERVICING BILL

The Supreme Court has determined that the provisions of Active Liability Management Bill are consistent with the Constitution.

Speaker Karu Jayasuriya reading out the SC ruling at the commencement of sittings said the SC had informed that nothing in the Bill is contrary to the provisions of Constitution.

The Government yesterday in Parliament presented a new Bill to authorise the raising of loans in or outside Sri Lanka for the purpose of Active Liability Management to improve public debt management.

The Government presented the Bill for first reading on February 19.

The objective of the Bill is to manage public debt to ensure the financing needs and payment obligations of the Government are met at the lowest possible cost over the medium to long term consistent with a prudent degree of risk.

The new Bill allows borrowing in advance for debt servicing in future. 


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