Finance State Minister Shehan Semasinghe said that Sri Lanka has successfully concluded discussions with the ad-hoc Bondholder Committee of International Sovereign Bonds (ISBs), reaching an agreement on restructuring terms.
“ISBs account for US$ 12.5 billion out of the total external debt of US$ 37 billion. This agreement is a crucial step in our efforts to restore debt sustainability in the country.
These restructuring terms now require approval from the official creditor committee and the International Monetary Fund (IMF) to confirm Comparability of Treatment and assess compliance with Debt Sustainability targets.
This marks another key milestone in our journey towards economic revival and strengthening.
This milestone could be considered a reflection of the ambitious economic and governance reforms carried out by the government in line with the best practices adopted globally.
These reforms have been pivotal in creating a more resilient and sustainable economic framework for the future.”
(dailynews.lk)
