President on regaining foreign creditors' trust

President Ranil Wickremesinghe said today (26) that Sri Lanka has been able to win back the trust of foreign banks and financial institutions.

Making a statement in parliament, he said there was a need to create financial stability and to protect low-income groups.

For the first time, interest in lieu of foreign debt could not be paid due to the foreign exchange crisis, he said.

The president said talks were underway with all creditors to restructure both foreign and domestic debt.

Restructuring domestic debt is yet to be decided, he said.

President Wickremesinghe assured that the EPF members would not be affected in any way.

"The World Bank too, agrees that those living in poverty needs to be looked after", he added.