Government is not engaging in debt restructuring with private banks and local contractors, an official statement from the Ministry of Finance has said.
The clarification is in reference to media publication suggesting that government is engaging in debt restructuring with private banks and local contractors.
A statement issued by the Ministry of Finance on Monday (9 September), said no such restructuring has been
contemplated during or after the domestic debt restructuring programme which ended in October 2023.
“The attention of the Ministry of Finance has been drawn to recent publications by some media houses, suggesting that the government is engaging in debt restructuring with private banks and local contractors,” the statement said.
” The Ministry wishes to state categorically that no such restructuring has been contemplated during or after the domestic debt restructuring program, which commenced in December 2022 and came to a firm close in October 2023.”
It added “During a recent Monthly Press Briefing on the Economy held on 29th August 2024, a question was raised regarding external commercial debt restructuring, the response to which was misinterpreted to mean that obligations to local contractors were going to be restructured.”
Below is the full statement:Â
Press Release GOV’T DEBUNKS REPORTS OF DEBT RESTRUCTURING WITH LOCAL CONTRACTORS., (1)
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