Sri Lanka is nearing the finalization of its debt restructuring plan. In a special meeting, the cabinet unanimously approved a framework for domestic debt revamp, a key step in concluding the debt overhaul and securing additional funds after the first review of Sri Lanka’s USD 3 bln IMF program, due around September. Authorities noted that local debt restructuring would not destabilize the banking system or affect current bank deposit interest rates. Meanwhile, the Sri Lankan rupee appreciated slightly, gaining 0.1% to 308 per USD, while the 7.55% 2030 dollar bond remained steady at 39 cents on the USD.