The Ceylon Chamber of Commerce has praised the Sri Lankan government’s successful consultations with the International Monetary Fund (IMF) and the Official Creditor Committee (OCC), which cleared the way for an in-principle agreement with private bondholders on restructuring International Sovereign Bonds (ISBs). This development is seen as a crucial step toward achieving external debt restructuring and fiscal stability in the country.
Sri Lanka plans to issue GDP-linked bonds and governance-linked vanilla bonds as part of its debt restructuring strategy, with further details yet to be finalized. The Ceylon Chamber expressed optimism about the completion of the restructuring process and its alignment with the Comparability of Treatment (CoT) principle, which is vital for the country’s broader economic reform agenda.
The Chamber highlighted that the successful consultations signal positive momentum for future reviews and disbursements under the IMF’s Extended Fund Facility (EFF). These disbursements are essential for Sri Lanka’s journey toward economic stability and transformation.
The Chamber acknowledged the contributions of the government, Central Bank Governor, Treasury Secretary, and other stakeholders in facilitating this progress. The quick response from OCC countries and the IMF was also commended for advancing the debt restructuring process.