Regulatory Alerts2021-03-19 | Circular No. 4 of 2021Extension of Debt Moratorium for Tourism Sector Businesses and Individuals Affected by COVID-19
The Central Bank of Sri Lanka extends the debt moratorium for tourism sector businesses and individuals by six months, effective from 1 April to 30 September 2021. Licensed commercial and specialized banks must convert due capital and interest into term loans, waive unpaid penal interest as of 1 April 2021, and assess borrower restructuring plans on a case-by-case basis before the moratorium expires. Eligible borrowers with sufficient repayment capacity are expected to resume loan servicing, while banks may offer additional restructuring options upon borrower request.
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