Pension funds exempted from Debt Exchange Programme

The government has announced exempting all pension funds from the Debt Exchange Programme.

nnThis follows a meeting between Organised Labour, the Ministry of Employment and Labour Relations, the.

Finance Ministry, the National Security Ministry, and all other parties involved on Thursday, December 22.

nnHowever, the exemption of all pension funds is subject to the government and Organised Labour.

working together to explore mutually beneficial options within the debt sustainability terms.

nnAfter the meeting on Thursday, through a Memorandum of Understanding (MoU) between the government and.

Organised Labour, a seven-member committee was formed to explore technical solutions to bring the debt.

threshold back to sustainable limits.

nnThe Committee comprised four representatives from Government and three representatives from Organised Labour.

They are expected to submit a report on December 28.

nn“We believe that Government and Organised Labour can work together in the spirit of social.

partnerships to resolve all outstanding issues to make the Debt Exchange Programme successful towards the.

restoration of macroeconomic stability and economic recovery,” the MoU stated.

nnIt would be recalled that the government, on December 5, 2022, announced a debt restructuring.

measure.