Governor of the Central Bank Dr. Nandalal Weerasinghe says that the reason for declaring June 30 as a bank holiday was to complete the domestic debt restructuring (DDR) process. He says that no deposit in any bank in the country will be harmed in the process of restructuring the domestic debt. The declaration of June 30 as a special bank holiday makes for a five-day bank holiday from June 29 to July 3.
Governor of the Central Bank Dr. Nandalal Weerasinghe says that in consultation with the Government and the Ministry of Finance, it has been decided to declare Friday 30th of June as a bank holiday.
The reason for declaring June 30 as a bank holiday was to complete the domestic debt restructuring (DDR) process, the Central Bank governor said while calling a special press conference.
The Governor explained that a period of time is needed for the full implementation of the domestic debt restructuring process and for this, Cabinet approval, presentation to the Parliament and discussion in the Parliamentary Committees are required.
Accordingly, it is expected to complete the domestic debt restructuring process during the five-day long bank holiday.
He further stated that no deposit in any bank in the country will be harmed in the process of restructuring the domestic debt.
The declaration of June 30 as a special bank holiday makes for a five-day bank holiday from June 29 to July 3. The five-day bank holiday includes the Thursday, June 29 for Hajj festival, Friday June 30, Saturday July 1, Sunday July 2, and Esala Poya on Monday, July 3.
