Immunity for CB Governor, officials in debt...

The money collected from the sale of Grand Hyatt Hotel and Hambantota port lease will also go to this fund.

Diversification of external borrowings in financial markets in 2020 is also on the cards he added.

Asked to comment on the immunity clause, he said most of the laws have this as a standard clause and there is nothing to be alarmed about.

Analysts however say the immunity clause in the Active Liability Management bill appears to have a wider meaning than what is contained in other bills.

For example the Foreign Exchange Act 12 of 2017 in the section under “Indemnity for acts done in good faith” says: “No person shall be liable in any suit or other legal proceedings for any act done, or purporting to be done, in good faith in pursuance of the powers conferred by or under this Act, or for the purpose of carrying out the provisions of this Act.”

The connected clause in the Monetary Law Act under Section 47 on “Protection for acts done in good faith” says: “No member of the Monetary Board or officer or servant of the Central Bank shall be liable for any damage or loss suffered by the bank unless such damage or loss was caused by his misconduct or willful default.”

The Development (Special Provisions) Bill says no action or prosecution shall be instituted against the “Agency, Board or other institution for any act which is done in good faith, or purported to be done, by such Agency Board or other institution under this Act”. The same applies to its officials.