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Wednesday, February 21, 2024

Talks on with India to restructure SL debt

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Colombo: Lazard, the external debt advisory firm selected by Sri Lanka to help restructure its debt, has commenced discussions with India, China and Japan.

Lazard has been hired to hold discussions with bilateral and other debt holders.

“These discussions are ongoing, and I hope we will be able to come to a consensus soon,” The Island newspaper quoted Minister Ramesh Pathirana as saying.

Debt restructuring is important for Sri Lanka to receive IMF aid as well.

The IMF has said that debt relief from Sri Lanka’s creditors and additional financing from multilateral partners would be required to help ensure debt sustainability and close financing gaps.

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