Despite the ‘message’ perilous phase of sovereign bond restructuring remains

Despite the debt restructuring agreements given to Sri Lanka by foreign bilateral creditors having been signed, the dangerous phase of international sovereign bond debt restructuring remains, emphasized NPP leader Anura Kumara Dissanayake while addressing the district meeting of the Banking and Finance Forum held in Kandy yesterday (26).
He explained that signing these agreements is not a new message but one more stage in the journey that has come so far after the agreements reached with the IMF.
He pointed out that the government of Mahinda Rajapaksa, which started taking loans through international sovereign bonds in 2007, had borrowed $ 3.5 billion from the government until 2015, and from 2015 to 2019, under Ranil Wikramasinghe, sovereign bond loans of $ 12.05 billion had been obtained. He explained that the largest portion of the outstanding foreign commercial loans is the remaining $ 12.05 billion of sovereign bonds obtained under Ranil Wickranamasinghe.
Anura Dissanayake said that Ranil Wickramasinghe, who made a statement around 2018, said the country would be freed from debt by 2020.

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