Shehan strives to prop up Ranil

The restructuring of the foreign debt remains a crucial step for Ranil Wickremesinghe to be presented as a candidate for the presidential election, and it is revealed that State Minister of Finance Shehan Semasinghe is working to sign the agreements under any condition.
State Minister Semasinghe is currently in New York City meeting with the Paris Club and the country’s foreign creditors. As a result of these negotiations, the country plans to announce on the 27th that it has been freed from bankruptcy by signing agreements with foreign creditors.
According to current information, Sri Lanka is ready to sign debt restructuring agreements under very unfavourable conditions. Economic analysts have argued that cutting off at least 40% of the value of sovereign bonds and 30% of foreign loans in general is possible.
Despite that, only a small amount has been cut from the current total amount of foreign debt, as long-term instalments and interest have overcome the reduction’s effect. Now, they are ready to sign agreements in favour of the creditors.

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