IMF says “strong expectation” on Sri Lanka deal with private creditors

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ECONOMYNEXT – There are strong expectations of agreements being reached with commercial creditors, the International Monetary Fund Communications Director Julie Kozack, said.

“[T]here is a strong expectation that agreements with commercial creditors consistent with program parameters will be reached by completion of the second review,” she told reporters in Washington.

Domestic debt restructuring is largely completed, she said.

Domestic state enterprise debt re-structuring is expected to completed soon, Deputy Central Bank Governor Yvette Fernando told a business forum earlier this week.

Sri Lanka is in talks with both International Sovereign Bond Holders and other creditors like China Development Bank to conclude a deal.

Finalized bilateral restructuring agreements and a deal with private credits are required to complete the second review of the IMF program.

Sri Lanka is hoping to conclude the review by June-July before elections are held, President Ranil Wickremesighe has said. (Colombo/Apr05/2024)

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[[{“value”:” ECONOMYNEXT – There are strong expectations of agreements being reached with commercial creditors, the International Monetary Fund Communications Director Julie Kozack, said. “[T]here is…

[[{“value”:” ECONOMYNEXT – There are strong expectations of agreements being reached with commercial creditors, the International Monetary Fund Communications Director Julie Kozack, said. “[T]here is…