It’s not clear where the interest factor is concerned. Will the interest on the borrowing be exempted or will it be accumulated to be paid till the end of the period? At the end of the day the citizens of the country will be penalised and this would become another burden to the tax payers isn’t it.
When I get chance I watch your YT from Oklahoma home, tonight I had privilege to watched from my home in Colombo. About SL emerge from Bankruptcy with re-structuring $10 Billion debt agreement with Paris Club, Exim Bank of China ($4.5 Billion debt trapped corruption ) and bond holders. These new bonds are called Macro Linked Bond or MLB’s that would track the SL economic recovery. If SL fail to meet the target under IMF Debt sustainability analysis, then IMF to decide how much financial assistance needed. SL will face the target of setting GDP linked payments and assessing a creditor proposal for a separate governance -linked bond. For SL this would be either the ratio of its gross financing needs to GDP or simply debt to GDP. This will benefit if SL ability to raises tax revenue collection as a share of GDP and passes anti- corruption reforms from parliament.
@@TheCashman007 I think it is in the genes and most have been exposed to the same shit every day. The rural society is pretty and nice, but when they get close, you would realise all the bad qualities most people have. Not everyone, but many do not have Buddhist values. I think there are many weaknesses the country as a society, and everyone is responsible. But the politicians especially MR clan made the values in the country disappear even faster. NPP is also not a nice group of people, they have gone on the wrong path for many years preaching the wrong ideology. The problem is not about socialism. Sri Lanka used to be called “Democratic Socialist Republic of Sri Lanka”. I wish Sri Lanka was a British Colony. We would have been at a much better position.
