Sri Lanka has reached an agreement to restructure US$ 12.5 billion in bonds, featuring a 28 percent cut on face value, 11 percent reduction in past interest, interest payments starting in September 2024, and governance-linked bond features.

The Cabinet approved a $100 million ADB loan to support reforms in the Ceylon Electricity Board and Ceylon Electricity Company, as part of a $300 million program to overhaul Sri Lanka's power sector.  ...

Sri Lanka will save $5 billion through reduced interest payments on restructured bilateral debt, with an extended repayment period of 8 years, starting in 2028 and ending in 2043.

Sri Lanka's State-Owned Enterprises (SOEs) have reported a significant improvement in financial performance in the first four months of 2024 due to the appreciation of the rupee and comprehensive reforms, including cost...