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…
Posts tagged as “restructuring”
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…
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…