Skip to Content

Sri Lanka says debt-restructuring talks making progress

KIFI

By BHARATHA MALLAWARACHI
Associated Press

COLOMBO, Sri Lanka (AP) — Debt-stricken Sri Lanka’s Central Bank chief says the country is making good progress in talks with its creditors to obtain financial assurances for debt restructuring, an important step toward finalizing an International Monetary Fund rescue plan. Sri Lanka is bankrupt and has suspended repayment of its $51 billion foreign debt, of which $28 billion must be repaid by 2027. It has reached a preliminary agreement with the IMF for a $2.9 billion rescue package over four years. Its completion hinges on assurances on debt restructuring from creditors that include China, India and the Paris Club, a grouping of major creditor nations.

Article Topic Follows: AP National

Jump to comments ↓

Author Profile Photo

Associated Press

BE PART OF THE CONVERSATION

KIFI Local News 8 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content