Economics

Sri Lanka Strikes US $14.2 Billion ISB Restructuring, Paving Way Out of Bankruptcy

  • September 20, 2024

Sri Lanka has made significant progress in its efforts to exit bankruptcy, reaching an agreement in principle with the ad hoc group of bondholders, China Development Bank, and the Local Consortium of Sri Lanka (LCSL) to restructure approximately US $14.2 billion of sovereign bonds. This milestone comes after the country declared a sovereign default in

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Economics

Sri Lanka Bondholders Agree to 28% Haircut with GDP-Linked Gains

  • July 4, 2024

Sri Lanka and its sovereign bondholders have come to an agreement to exchange $14.43 billion in defaulted bonds and overdue interest for new instruments tied to future GDP growth, governance, and standard fixed interest bonds. Bondholders have consented to an 11% haircut on $1.889 billion of overdue interest, as opposed to an earlier proposal, according

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