Grace Period for Debt Restructuring Ends Tomorrow

COLOMBO (News 1st) - The grace period granted by the Central Bank of Sri Lanka (CBSL) for debt restructuring of small and medium-sized enterprises affected by the economic crisis will conclude tomorrow.

This period was announced alongside the extension of the suspension of the Parate law until March 31.

A suitable methodology for debt restructuring will be developed in coordination with licensed banks and the Credit Information Bureau (CRIB).

The Ministry of Finance has informed enterprises that have not yet discussed their debt restructuring plans with banks that they will have the opportunity to do so tomorrow.