The Ministry of Finance (MoF) has refuted claims regarding a debt restructuring agreement with private banks and local contractors.
This follows recent reports suggesting the government was engaging in debt restructuring with these entities.
In a statement released on Monday, the MoF clarified, “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.”
The statement explained that during the recent Monthly Press Briefing on the Economy held on August 29, 2024, a question was raised regarding external commercial debt restructuring. However, the ministry’s response to this query was misinterpreted to imply that obligations to local contractors were also going to be restructured.
The MoF emphasized that no debt restructuring with private banks or local contractors has been considered or planned. The ministry reiterated its commitment to transparent fiscal management and maintaining its contractual obligations.
