Sri Lanka Parliamentary panel headed by PM Gunawardena sets up sub-committee to tackle economic crisis

Sri Lanka owes $51 billion in foreign debt, of which $28 billion must be paid by 2027

Sri Lanka’s Parliamentary panel, headed by Prime Minister Dinesh Gunawardena, has set up two special sub-committees on September 29, including one to tackle the country’s economic crisis.

The decision was taken during the inaugural session of the National Council, under Speaker Mahinda Yapa Abeywardena.

During the meeting, it was decided that the National Council would form two sub-committees related to national policies and economic stabilisation, the Parliament was informed.

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Last week, the National Council was established headed by Mr. Gunawardena and 32 members from various political parties to formulate a roadmap to tide over Sri Lanka’s economic crisis.

While speaking at the inaugural session on Thursday, Mr. Gunawardena said he was happy to see the participation of members from both sides of the political spectrum, adding that the National Council would further strengthen the Parliament’s functioning.

On September 1, the International Monetary Fund (IMF) announced that it will provide Sri Lanka with a loan of about $2.9 billion over a four-year period to help the island nation overcome the unprecedented economic turmoil.