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Prez, PM to handle debt crisis: Shehan Semasinghe

10 Feb 2021

President Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa have paid special attention to the debt crisis, State Minister of Samurdhi, Home Economy, Microfinance and Self-Employment Shehan Semasinghe said. The Minister explained that 93% of the debtors are women in the country. He said that there was no law to regulate credit institutions and that with the collapse of the Sri Lankan economy in 2016 , people resorted to such institutions under various names. The Minister explained that many such institutions have been identified and that their target is the poor people in the villages. The Minister further stated that notifications are being made in this regard jointly with the Central Bank of Sri Lanka through the Samurdhi Banks. He said the Anuradhapura District has already been covered. He said that all state and Samurdhi banks have been instructed to save the people from this crisis and that the Net Finance Act has been submitted to the Attorney General's Department for amendment.


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