Sri Lanka seeks to restructure $43 billion debt by replacing defaulted bonds, crucial for IMF bailout.

Sri Lanka plans to replace $12.55 billion in defaulted dollar bonds with new securities, aiming to complete its $43 billion debt restructuring. Bondholders can swap their holdings until December 12. This move is crucial for securing the next $3 billion tranche from an IMF bailout. Additionally, Sri Lanka faces a $750 million default by the Maldives on a state bank loan, complicating its financial recovery.

November 26, 2024
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