Sri Lanka’s Central Bank Governor, Treasury Secretary attend key debt meeting in Washington

Dr. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka (CBSL), and K M M Siriwardana, Secretary to the Treasury, participated in the Global Sovereign Debt Roundtable (GSDR), which was held in Washington DC on April 23on the sidelines of the Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG).

The GSDR was formed in February 2023 to bring together the debtor countries and creditors, to enhance common understanding amongst stakeholders on debt related challenges and solutions. The GSDR is co-chaired by the IMF, World Bank, and the G20 Presidency. Apart from bringing together diverse debt-related stakeholders, the GSDR’s achievements include the recently introduced Sovereign Debt Restructuring Playbook for Country Authorities, Sri Lanka’s banking regulator said in a media release.

Since its formation, Governor Weerasinghe has actively participated in the GSDR discussions. During this round, while sharing Sri Lanka’s experience in debt restructuring, the Governor also emphasised the important role of sovereign rating agencies to ensure the countries in debt distress exit smoothly from default status upon successful completion of debt restructuring.