In an interview with a prominent French media outlet, President Ranil Wickremesinghe shed light on the upcoming Domestic Debt Restructuring (DDR) process of Sri Lanka.

The President outlined a comprehensive timeline and key steps that will be undertaken to address the country's mounting domestic debt crisis.

According to the President's statement, the DDR process is set to commence with the approval of the Cabinet on Wednesday, June 28. Following this, the plan will undergo scrutiny and endorsement by the Committee on Public Finance (COPF), scheduled for Friday, June 30. The President expects that the COPF will provide the necessary approvals to move the process forward.

To ensure transparency and democratic participation, the proposed DDR plan will be presented for debate and approval in the Parliament on either Saturday, July 1, or Sunday, July 2. This parliamentary discussion is anticipated to be a significant milestone in the DDR process, providing an opportunity for elected representatives to voice their opinions and contribute to shaping the final strategy.

Finally, on Monday, July 3, the President aims to unveil the definitive DDR strategy. This comprehensive plan will outline the measures and initiatives that the Sri Lankan government intends to undertake to address the country's domestic debt burden effectively. It is expected to encompass a range of strategies, including debt rescheduling, refinancing options, and potentially other fiscal reforms.

The President's announcement comes at a critical juncture for Sri Lanka, as the country grapples with significant challenges posed by its mounting domestic debt. The DDR process is seen as a crucial step toward stabilizing the economy and restoring investor confidence.