COLOMBO, June 30 (Xinhua) -- Sri Lankan President Ranil Wickremesinghe has urged the business leaders of the country to educate their employees on the government's domestic debt optimization program, the President's Media Division (PMD) said on Friday.
The PMD said in a statement that the president addressed the members of the chambers, business leaders, and unions regarding the domestic debt optimization program.
The president urged the business leaders to educate their employees on this crucial step aimed to ensure that individuals and industries comprehend the significance of this financial maneuver, the PMD said.
By engaging in widespread explanations, stakeholders can grasp the nuances of the restructuring and gauge its influence on their livelihoods, he said.
According to the PMD, Wickremesinghe noted that the foremost effect of this restructuring endeavor is the anticipated reduction in interest rates, providing a glimmer of hope for individuals burdened by financial obligations.
He emphasized the importance of implementing the domestic debt optimization program, warning that failure to do so could lead to a potential increase in interest rates for loans obtained by small businesses.
Expressing concerns about the possibility of the dollar's resurgence, given the strengthening of the rupee, the president emphasized that domestic debt optimization must be conducted simultaneously with foreign debt optimization to mitigate this risk. ■
