News
Siyambalapitiya alleges move to trigger run on banks
By Rathindra Kuruwita
A sinister attempt is being made in some quarters to trigger a run on banks and the five-day bank holiday is aimed at countering that move, State Minister of Finance Ranjith Siyambalapitiya has said.
Siyambalapitiya, addressing the media, yesterday, assured that bank and other deposits and pension funds would not be affected by Domestic Debt Restructuring (DDR) and that there is no reason for people to panic.
Sri Lanka’s total debt amounted to USD 83.6 billion made up of foreign debt of USD 42.6 billion and domestic debt of USD 42 billion.
“Out of the domestic debt amounting to USD 25 billion are in Treasury bonds, USD 11 billion in Treasury Bills, USD 5.6 billion in development bonds and the rest has been from various institutions. When we restructure domestic debt, there will be no haircuts,” he said.
DDR will amount to extensions of payment dates, moratoriums and reducing interest rates, he said.
“If we can restructure foreign debt well, we don’t need too much from domestic debt. People should not panic and rush to the banks. Your deposits are safe. Your pension funds are safe,” the State Minister of Finance added.
The Cabinet of Ministers approved the resolution furnished bys the Minister of Public Security and Parliamentary Affairs to extend Visas of those unable to leave Sri Lanka due to the
cancellation of flights to the Middle East from 28.02.2026 for another 14 days without any payments and re-extend the extended Visas for another 14 days without payments if the flights cancellations continue.
Taking into consideration the resolution furnished by the Minister of Public Administration, Provincial Council, and Local Government, the Cabinet of Ministers has decided to appoint Sunil Galagama, a Special Grade Officer of the Sri Lanka Administrative Service, who is currently serving as an Additional Secretary in the Ministry of Health and Mass Media, as the District Secretary to Badulla Administrative District with immediate effect.
The Cabinet of Ministers, taking into consideration the resolution furnished by the Minister of Public Administration, Provincial Council, and Local Government, have decided to appoint Anupama Mangala Wickramaarachchi, a special grade officer of the Sri Lanka Administrative Service, who is serving as the Additional Commissioner General of Agrarian Development of the Department of the Agrarian Development at present, as the District Secretary , Ampara Administrative district with immediate effect.
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Anupama Mangala Wickramaarachchi appointed District Secretary Ampara
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