Economics

Ceylon Chamber Commends Progress in Sri Lanka’s ISB Debt Restructuring Approval

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

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Economics

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

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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