Page 10 - Debt Restructuring News Today

The company's solutions are poised to reshape the landscape of the real estate loan market

The IMF said its board completed the first review of Sri Lankas rescue package known as the Extended Fund facility (EFF) and released the second tranche of $337 million to support economic policies and reforms.

The International Monetary Fund executive board approved the release of the second tranche of a $2.9 billion dollar bailout package to help Sri Lanka recover from the worst economic crisis in its history. In a statement, the fund said the decision Tuesday to release $337 million came after Sri Lanka had made “commendable progress” toward debt sustainability, raising revenue, rebuilding its reserves, reducing inflation and safeguarding financial stability. In September, the IMF de...

An IMF analysis suggests that several low-income countries (LICs) have been at high risk of debt distress or are in debt distress. Between 2010 and 2022, interest payments on both domestic and external debt of developing countries increased by 64%, and of African countries by 132%.

HONG KONG (Reuters) -China Evergrande Group on Monday said it has been granted an adjournment of a court hearing into a liquidation petition to Jan. 29, giving the embattled property developer time to finalise a revamped debt restructuring proposal. The decision came as the world's most indebted developer with more than $300 billion in liabilities sought adjournment unexpectedly unopposed by the petitioner's lawyer. On Oct. 29, at the previous adjournment, Hong Kong High Court Justic...

Chinese property giant Evergrande Group won a temporary reprieve from possible bankruptcy Monday after a Hong Kong court gave it more time to try to restructure debts of more than $300 billion.

COLOMBO (Reuters) -Sri Lanka's pact with creditor nations to restructure its debt prepares the way for the International Monetary Fund (IMF) to consider clearing the first review of a bailout next month, the global lender said on Thursday. Battling its worst financial crisis in decades, the Indian Ocean nation had been trying since last year to strike restructuring deals with creditors after record low foreign exchange reserves led to a default on foreign debt in May 2022. Wednesday'...

China Evergrande Group, the world's most indebted property developer, is seeking to avert a potentially imminent liquidation with a last-minute debt restructuring proposal, three people with direct knowledge of the matter said. The defaulted company has until a Hong Kong court hearing on Monday to present a "concrete" revised debt restructuring proposal for offshore creditors, a judge said last month after its original plan had lapsed. But the sources, who declined to be named a...

A group of Sri Lanka's creditor nations are likely to reach an agreement on debt relief and an extension of repayment deadlines for the South Asian nation, Japan's Jiji News reported on Wednesday, without naming a source or giving any details. Japan co-chairs this group, together with France and India. China is Sri Lanka's largest bilateral creditor and has steered clear of joining this group as a formal member.

Japan co-chairs the official creditor committee, together with France and India