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Sri Lanka, which declared default in April 2022, is actively negotiating with its private bondholders to finalize a debt restructuring agreement by the end of March 2024, according to State Finance Minister Shehan Semasinghe. Having already completed domestic debt restructuring and agreements with bilateral creditors, the country is now focusing on its $25 billion debt with sovereign bondholders. Semasinghe expressed optimism about resolving the financial crisis, indicating that foreign-funded projects would resume as agreements are reached. This progress signals a potential move towards resolving the nation's bankruptcy status.
Sri Lanka hopes to declare out of bankruptcy by Q1 2024: Minister | EconomyNext
