Sri Lanka hopes to declare out of bankruptcy by Q1 2024: Minister

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

EconomyNext

2023-12-18

தொடர்பான தலைப்புக்கள்

IMF calls on government to increase social spendin...

The IMF urged Sri Lanka to enhance social spending and ensure inclusive economic growth while maintaining fiscal discipline and meeting reform targets under its Extended Fund Facility. ...

மேலும் அறிந்து கொள்ள

Vehicle imports could be a ‘very good source of re...

The IMF suggests lifting vehicle import restrictions as a potential revenue source for Sri Lanka, emphasizing careful management to protect foreign exchange reserves.

மேலும் அறிந்து கொள்ள

ADB approves $200m Sri Lanka loan for battery stor...

ADB has approved a $200 million loan to upgrade Sri Lanka’s power grid, enhance renewable energy integration, reduce power interruptions, and modernize infrastructure.

மேலும் அறிந்து கொள்ள

அனைத்தையும் காட்டு