Regulatory Alerts2021-03-19 | Circular No. 5 of 2021Extension of Debt Moratorium for COVID-19 Affected Businesses and Individuals in the Tourism Industry
The Central Bank of Sri Lanka directs licensed finance and specialised leasing companies to extend the debt moratorium for tourism sector borrowers by six months, covering capital and interest from 1 April to 30 September 2021. Eligible borrowers must request this extension by 19 April 2021, while institutions are required to finalize agreements and convert due payments into term loans by 31 May 2021. The directive also mandates the waiver of unpaid penal interest as of 1 April 2021 and requires borrowers to submit long-term restructuring plans before the extended period concludes.
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