Parliament is to be summoned in emergency session next week to obtain its approval for financial regulations to restructure domestic debt as per agreement with the International Monetary Fund (IMF).

According to parliament sources, the House will meet at the weekend.

The government plan is to restructure part of the USD 36 billion worth of treasury bills and bonds.

A reduction of the interest or an extension of the period of credit is likely in lieu of treasury bills and bonds bought by state-run banks and funds.

The government also intends to secure passage of a new Central Bank Act.

The IMF has informed the government that these should be in place before July this year.

 

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