Sri Lanka's top court has granted permission for proceedings against former President Gotabaya Rajapaksa, the rights group which filed the case against him said in a statement on Friday.
The court also agreed to allow proceedings against the country's former Prime Minister Mahinda Rajapaksa, its former finance minister and two of its former central bank governors.
The case, filed by rights group Transparency International, calls for accountability for the island nation's leadership for its worst financial crisis in more than seven decades.
Sri Lanka is nearly bankrupt and has suspended repaying its $51 billion foreign debt, of which it must repay $28 billion by 2027.
The government in May appointed international legal and debt advisors for debt restructuring after the country for the first time in history declared its international debt default.