SL highlights role of rating agencies in debt restructuring at global sovereign debt roundtable

Central Bank (CB)) Governor Dr. Nandalal Weerasinghe and Treasury Secretary K.M.M. Siriwardana represented Sri Lanka at the Global Sovereign Debt Roundtable (GSDR) during the IMF-World Bank Spring Meetings in Washington DC, advocating for smoother post-default transitions for debt-distressed nations.  

Co-chaired by the IMF, World Bank, and G20, the GSDR convened key stakeholders to address sovereign debt challenges, showcasing tools like the newly launched Sovereign Debt Restructuring Playbook. 

Dr. Weerasinghe, a consistent participant in GSDR dialogues, shared Sri Lanka’s ongoing restructuring experience and stressed the critical need for sovereign rating agencies to reassess countries’ creditworthiness promptly after successful debt overhauls.  

The event reinforced Sri Lanka’s proactive engagement in shaping equitable solutions for emerging economies navigating financial crises.