Finance

Sri Lanka’s Private Credit Grows in 2024, Government Credit Declines

  • July 29, 2024

Sri Lanka’s private sector credit saw a notable expansion of 146 billion rupees during the first half of 2024, according to official data. This growth contrasts with a reduction in credit extended to the government, although government credit continued to surpass private sector lending. In the six months leading up to June 2024, commercial bank

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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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