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Sri Lanka strikes deal with creditors on debt restructuring to clear way for IMF funds
Credit: IndiaTimes- Published on November 29, 2023
On Wednesday, Sri Lanka announced that it has, in principle, finalized an agreement with a consortium of creditors, including India and Japan, for the restructuring of its debt. This development is a pivotal step forward in accessing the second tranche of a $2.9 billion bailout package from the International Monetary Fund. The...
Video credit: Oneindia
Published on November 29, 2023 - 02:07
Sri Lanka Crisis | Creditor Nations Agree on Debt Restructuring of the Island Nation | Oneindia News
Sri Lanka anticipates significant relief from its economic turmoil. Reports indicate a pending debt-restructuring agreement with creditor nations, pivotal amid the country's $36.6 billion external debt. Pending IMF approval may secure up to $900 million in funding, but bondholder negotiations remain crucial.
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