FR petition challenges Sri Lanka’s debt restructuring plan
Former IUSF convener Wasantha Mudalige has filed a fundamental rights petition in the Supreme Court, challenging the government’s decision to restructure Sri Lanka’s international sovereign bonds.
The petition claims the restructuring, which increased the debt from USD 16.4 billion to USD 19.1 billion, has violated citizens’ basic human rights by imposing a significant economic burden.
The petition names the Finance Minister, the Secretary to the Ministry of Finance, and the Governor of the Central Bank as respondents.
Mudalige argues that changes in interest rates under the restructuring program have worsened the debt situation for the country.