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COLOMBO: Sri Lanka's new government has approved a controversial restructure of US$14.7 billion in foreign commercial credit tentatively agreed by its predecessor, the finance ministry said Saturday (Oct 5). Former leader Ranil Wickremesinghe announced a deal with international sovereign bondholders and th

Channel News Asia

Singapore

Sri Lanka approves controversial foreign debt deal

The Ministry of Finance said in a statement that it reached a debt restructuring agreement with bondholders, providing relief to the cash-strapped nation

Media Bias/Fact Check

The Hindu

The Hindu Group

India

Sri Lanka reaches debt-restructuring agreement

Government of Singapore

Sri Lanka has reached a long-delayed debt restructuring agreement with its international and local sovereign bondholders. This comes after consultations with the IMF and the Official Creditor Committee. The deal is expected to provide financial relief to the struggling nation. New President Anura Kumara Dissanayake has shown willingness to accept the agreement.

The Economic Times

Sahu Jain family

The debt restructuring is a key International Monetary Fund demand to rebuild the island's economy, which suffered its worst crisis in 2022 when it shrank by 7.8 percent

Firstpost News

Mukesh Ambani

Mumbai

Maharashtra

Sri Lanka’s new government upholds predecessor's controversial debt restructuring agreement

The Sri Lankan government has announced a long-delayed debt restructuring agreement with its sovereign bondholders, in a major relief to the cash-strapped island nation. In a statement on Friday, the Ministry of Finance said it reached an agreement with representatives of its international and local holders of International Sovereign Bonds (ISB) on Sept. 19.Sri Lankan authorities have "completed their consultations with Sri Lanka's Official Cred…

NDTV Profit

Sri Lanka's Marxist-Led Government Secures Debt-Restructuring Agreement

In June, the government concluded a deal with its bilateral lenders to restructure its official credit amounting to US$6 billion. Under the deal announced on Sep 19, private creditors holding more than half of international sovereign bonds and foreign commercial loans to the South Asian nation agreed to a 27 per cent haircut on their […]

Financial Chickens

Sri Lanka’s new government has approved a controversial restructure of $14.7 billion in foreign commercial credit tentatively agreed by its predecessor, the finance ministry said Saturday. Former leader Ranil Wickremesinghe announced a deal with international sovereign bondholders and the China Development Bank just two days before he lost presidential elections last month. The new leftist President Anura Kumara Dissanayake had called for better…

Macau Business

Sri Lanka’s newly-elected government has approved a contentious restructuring deal for US$14.7 billion (RM62 billion) in foreign commercial credit, a plan tentatively agreed upon by the previous administration led by former President Ranil Wickremesinghe. The move has sparked widespread discussion both domestically and internationally, as the debt restructuring is seen as a critical step in the country’s ongoing economic recovery efforts, but it…

theasialive.com

Sri Lanka’s New Government Endorses Controversial Debt Restructuring Plan Amid Political Uncertainty

Sri Lanka approves controversial foreign debt deal

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