Sri Lanka Nears Confirmation on Debt-Restructuring Agreement with Creditor Nations

Date:

According to a government source speaking to Reuters on Wednesday (29), Sri Lanka has been informed of a debt-restructuring agreement with creditor nations. However, formal confirmation in the form of a letter from the official creditor committee is pending.

This anticipated agreement follows closely on the heels of the island nation’s recent deal with the Export-Import Bank of China, which covered approximately $4.2 billion of the country’s outstanding debt. The new agreement with the group of creditor nations arrives at a crucial time for Sri Lanka, grappling with substantial debt burdens, signaling efforts to navigate and manage its financial obligations effectively.

Share post:

spot_imgspot_img

Popular

More like this
Related

South Asian Think Tank ambitions Test Sri Lanka’s Policy Credibility

Sri Lanka entered a new chapter in its intellectual...

Sri Lanka’s Growth Outlook Faces Conflicting Fiscal, Monetary Forecasts

Sri Lanka’s economic growth projections for 2025 are under...

Planters renew socio-economic push to reinstate palm oil cultivations 

The Planters’ Association of Ceylon (PA) has renewed calls...

VAT Hikes Deepen Poverty While Rich Escape Fair Tax Share

Sri Lanka’s fragile path to fiscal recovery has exposed...