Another round of debt restructuring talks with ad hoc group of bondholders

3 May 2024 06:02 am - 10 - {{hitsCtrl.values.hits}}

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Colombo, May 02 - Sri Lanka will have another round of talks with the representatives of the ad hoc group of bondholders soon, State Minister of Finance Shehan Semasinghe said.

The Minister told Daily Mirror that the exact dates for the conduct of talks in London had not yet been fixed.

Last month, Sri Lanka rejected international bondholders' proposal to restructure more than $12 billion in debt. It triggered concerns whether the critical International Monetary Fund support and delaying its efforts to resolve a two-year-long debt crisis will be at risk.

Some of the proposal's "baseline" assessments and a lack of a contingency option in the case of continued economic weakness were the two main reasons the deal was not agreed, the government said in a statement.

Sri Lanka has already struck a deal with its main government creditors, but an agreement in principle with bondholders is also needed to secure IMF Board approval for the next $337 million instalment of its $2.9 billion programme next month.

Comments - 10

Jude Friday, 03 May 2024 07:15 AM

What the government doing best at the moment is restructuring the debt on regular basis, they're getting very good at it.

sach Friday, 03 May 2024 12:06 PM

Actually it is stuck as expected. These things takes too much time and the debtor nation ends up getting a bad deal.

Jude Friday, 03 May 2024 07:40 AM

Some of the ad-,hoc bondholders are the greedy regional Pension Fund managers whom was impressed with SL government guaranteed Sovereign bonds paying a return of 6.875% and that's more than double the rate of LIBOR and American bonds coupon rate!! Because of pension funds involved SL government under tremendous pressure to reach a deal with bondholders in the next few weeks!! The bondholders payout would vary depending on the SL's economic performance!! Now, Don't bet on that it's gonna improve any time soon!!!

joshua Friday, 03 May 2024 10:46 AM

NATO

sach Friday, 03 May 2024 12:07 PM

IMF yamu yamu....debt restructure karamu kattiya ko.....

Nihal S Friday, 03 May 2024 03:04 PM

"Last month, Sri Lanka rejected international bondholders' proposal to restructure more than $12 billion in debt". Is above correct?

Keeping Quiet This Week Friday, 03 May 2024 03:52 PM

Some of the previous feedback received last week confidently were saying debt repayments will be done after 2028. Why are these fellas not commenting on this issue now? Either they are related to the current regime or just ignorant of the actual state of affairs!

Buddhist Friday, 03 May 2024 06:19 PM

Which fool will agree to debt restructuring with a haircut when the government is planning to give car permits to MPs and in the name of development funds, bribes given to MPs who will cross over and join Ranil? It's time IMF opens its eyes!

Loans and Begging is in SL DNA Saturday, 04 May 2024 08:36 AM

Exactly- sadly there are many people still believing this regime is the best as they have managed to stabilise the economy. But forgot it’s all about International Loans and Begging for funds. They are not commenting this week but when this minister was last week glamorously and eagerly highlighting how the economy is stable and doing well, they were polishing his you know where!

Jineris Appupala Saturday, 04 May 2024 11:31 AM

Pin Gon Shehan Semasinghe, look at your size by eating Pin Bath and taking Pin Padi with Paga. Give some back to solve this financial crisis. You all 225 Horas can solve the problem!!

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Another round of debt restructuring talks with ad hoc group of bondholders

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