Sri Lanka’s bondholders have told the International Monetary Fund (IMF) that they are prepared to engage with the island nation’s authorities in debt restructuring talks consistent with the parameters of the global lender’s program.
Prime Minister Dinesh Gunawardene will inaugurate the Tata Steel and Tata Tiscon annual dealer conference in Colombo on 7 February, along with the High Commissioner for India Gopal Baglay.
US and China are exchanging words on Sri Lanka’s ongoing debt restructuring process to gain IMF board approval for US$ 2.9 billion bail out loan,amidst speculations on the likelihood of Paris Club assurance for debt rescheduling.
Sri Lanka is now moving towards the lowest economic growth among 148 nations even below the economic growth of South Sudan, the World Bank global economic prospects report (published in Jan 2023) revealed.
Sri Lanka is set to benefit from the UK’s new trade concessionary scheme Developing Countries Trading Scheme (DCTS) that will replace the GSP+ in that country and will be in force from 2023, finance ministry sources said.
