Home » Sri Lanka reaches agreement on ISB restructuring

Sri Lanka reaches agreement on ISB restructuring

written by MIAP Source

July 05, Colombo (LNW): State Minister of Finance Shehan Semasinghe announced that Sri Lanka has successfully concluded negotiations with the ad-hoc Bondholder Committee of International Sovereign Bonds (ISBs), reaching a consensus on restructuring terms.

ISBs represent $12.5 billion of the total $37 billion external debt. This agreement is a vital step towards restoring the country’s debt sustainability.

The restructuring terms now await approval from the official creditor committee and the International Monetary Fund (IMF) to confirm Comparability of Treatment and ensure compliance with Debt Sustainability targets.

This achievement signifies a significant milestone in Sri Lanka’s journey towards economic recovery and resilience.

It reflects the ambitious economic and governance reforms implemented by the government, aligning with global best practices.

These reforms are essential in creating a more robust and sustainable economic framework for the future.

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written by MIAP Source

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