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Exceptionalism of Domestic Debt Restructuring in Sri Lanka
Sri Lanka's approach to Domestic Debt Restructuring (DDR) stands out in its specificity and methodology. Notably, the strategy is centred on restructuring superannuation funds and Central Bank Holdings. According to an IMF staff report titled “Issues in Restructuring of Sovereign Domestic Debt” that detailed all 14 DDR episodes from 1998 onwards*, Sri Lanka is the only country that has adopted such a focused approach. The table and the Venn diagram below illustrate a clear deviation from the norm. While all 14 DDR episodes involved the restructuring of the banking sector, and 64% restructured private holdings, none exclusively targeted their pension funds. Only Grenada and Ghana included public pension funds in their restructuring, but these funds were among several other targets.
Featured Insight
Exceptionalism of Domestic Debt Restructuring in Sri Lanka
Sri Lanka's approach to Domestic Debt Restructuring (DDR) stands out in its specificity and methodology. Notably, the strategy is centred on restructuring superannuation funds and Central Bank Holdings. According to an IMF staff report titled “Issues in Restructuring of Sovereign Domestic Debt” that detailed all 14 DDR episodes from 1998 onwards*, Sri Lanka is the only country that has adopted such a focused approach. The table and the Venn diagram below illustrate a clear deviation from the norm. While all 14 DDR episodes involved the restructuring of the banking sector, and 64% restructured private holdings, none exclusively targeted their pension funds. Only Grenada and Ghana included public pension funds in their restructuring, but these funds were among several other targets.
Featured Insight
Exceptionalism of Domestic Debt Restructuring in Sri Lanka
Sri Lanka's approach to Domestic Debt Restructuring (DDR) stands out in its specificity and methodology. Notably, the strategy is centred on restructuring superannuation funds and Central Bank Holdings. According to an IMF staff report titled “Issues in Restructuring of Sovereign Domestic Debt” that detailed all 14 DDR episodes from 1998 onwards*, Sri Lanka is the only country that has adopted such a focused approach. The table and the Venn diagram below illustrate a clear deviation from the norm. While all 14 DDR episodes involved the restructuring of the banking sector, and 64% restructured private holdings, none exclusively targeted their pension funds. Only Grenada and Ghana included public pension funds in their restructuring, but these funds were among several other targets.
Featured Insight
Exceptionalism of Domestic Debt Restructuring in Sri Lanka
Sri Lanka's approach to Domestic Debt Restructuring (DDR) stands out in its specificity and methodology. Notably, the strategy is centred on restructuring superannuation funds and Central Bank Holdings. According to an IMF staff report titled “Issues in Restructuring of Sovereign Domestic Debt” that detailed all 14 DDR episodes from 1998 onwards*, Sri Lanka is the only country that has adopted such a focused approach. The table and the Venn diagram below illustrate a clear deviation from the norm. While all 14 DDR episodes involved the restructuring of the banking sector, and 64% restructured private holdings, none exclusively targeted their pension funds. Only Grenada and Ghana included public pension funds in their restructuring, but these funds were among several other targets.
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Budget 2024
Budget 2024
Detailed analysis of the 2024 Budget
Expenditure Proposals: Budget 2024
Major expenditure proposals from the 2024 Budget.
From The PF Wire
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The Morning
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Insight on Budget 2024
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Summary: Budget 2024
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Expenditure Proposals: Budget 2024
Major expenditure proposals from the 2024...
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In the Appropriation Bill for 2024, key m...
Highlights from the Appropriation Bill f...
The Appropriation Bill for Budget 2024 in...
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Featured
Sri Lanka Has The Highest Inflation Amongst South...
Sri Lanka, amidst facing one of its worst economic crisis, is currently experiencing rapidly rising inflation. The inflation increased to 15.1% year-on-year in February 2022, a 13-year high. When compared against other...
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The EPF is the Single Largest Holder of Government...
On June 28, 2023, the Sri Lankan government unveiled its Domestic Debt Restructuring plan. A key component of this plan is the restructuring of bond holdings associated with superannuation funds, which are funds set up for retirement benefit...
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Too Many ‘Known Unknowns’ in Sri Lanka’s IMF Progr...
This article was compiled by Dr. Nishan de Mel. Dr. Nishan de Mel is the Executive Director of Verité Research and an economist with extensive acade...
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