Sri Lanka debt deal a key milestone towards restoring debt sustainability, IMF says

06/27/2024

Less than a minute

2024.06.27 01:06

COLOMBO (Reuters) – The International Monetary Fund (IMF) said on Thursday that Sri Lanka’s agreements with China and other creditor nations to restructure about $10 billion in bilateral debt took the island nation a step closer towards restoring debt sustainability.

© Reuters. FILE PHOTO: The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S. on September 4, 2018. REUTERS/Yuri Gripas/File Photo

“We hope that there will be swift progress on reaching agreements with external private creditors in the near future,” Peter Breuer, IMF’s senior mission chief for Sri Lanka, said in a statement.

Sri Lanka still needs to convince bondholders to restructure about $12.5 billion in international bonds.

06/27/2024

Less than a minute

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