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Posts tagged as “restructuring”

Debt restructuring: Paris Club wants Chinese deal before final commitment

report in The Sunday Morning, Nov 5, 2023The end-October deadline for the finalisation of Sri Lanka’s debt restructuring programme by the Paris Club consortium of the country’s creditors has been further delayed, with the consortium waiting to see the framework agreement on debt treatment reached between Sri Lanka and China’s Export-Import Bank (Exim Bank), The Sunday Morning learns. Highly-placed Government sources told The Sunday Morning that the delay in the Paris Club consortium’s final proposal…

China takes front seat to lead SL’s debt restructuring process

By Indika Sakalasooriya in Daily Mirror, Oct 13, 2023China has taken the front seat in Sri Lanka’s external debt restructuring process making a calculated move akin to a chessboard strategy, catching everyone off-guard, by entering a preliminary debt deal with the Sri Lanka authorities. Despite being Sri Lanka’s largest bilateral lender, China remained in shadows as Sri Lanka initiated negotiations with its creditors to restructure its debt, following a default on its foreign loans in…

i Lanka takes a 5-day holiday to manage economic shocks as domestic-debt restructuring looms

by Dimuthu Attanayake in SCMP, June 27, 2023As cash-strapped Sri Lanka begins its long-awaited domestic-debt restructuring process this week, local experts have voiced optimism that the plan will enhance a reform road map agreed upon with the International Monetary Fund earlier this year. Nandalal Weerasinghe, the country’s central bank chief, announced on Sunday that the process would get under way over the coming five-day bank holiday weekend – extended with a special additional holiday on…

Debt restructuring: Govt. looking at reclassifying Chinese debt

By Mandana Ismail Abeywickrema in The Morning, Feb 19, 2023China’s bilateral debt to reduce to less than 50%Govt. has made representations to IMF on the moveDiscussions also ongoing on Chinese debt restructuringG20 ministers to discuss SL on 23-24 February in Delhi The Government has made representations to the International Monetary Fund (IMF) that it is working on reclassifying some of Sri Lanka’s bilateral debt in order to finalise the country’s debt restructuring programme in line…