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
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
Sri Lanka has reached an agreement in principle to restructure approximately USD 14.2 billion in sovereign debt with International Sovereign Bond (ISB) holders and has also finalized an agreement with the China Development Bank, according to State Minister of Finance, Shehan Semasinghe. Semasinghe announced on Thursday, September 19, that the ISB deal was secured after