EPF to chopping block but submissive to foreign creditors

It is confirmed that in the government’s debt restructuring process, the international sovereign bond creditors have not agreed to any cut-offs so far despite the loans given to the government by the Employees’ Provident Fund and similar pension funds have been cut,.
This is revealed in an official report issued by the Ministry of Finance on the 16th. According to the report, initial discussions were held with the sovereign bondholders on March 27 and 28 in London, and on March 25, the bondholders rejected the proposals presented through the international mediators appointed by Sri Lanka.
As such, it is confirmed that the Ranil Wickramasinghe -Pohottu coalition government has completely broken the promises made to the people earlier regarding the debt restructuring process and has restructured the domestic debt only. Although almost a year has passed since then, the government has not been able to achieve any success in restructuring the foreign debt.

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