Page 47 - Debt Restructuring News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Five-day bank holiday for domestic debt restructuring

Sri Lanka's central bank unveiled a far-reaching debt restructuring plan on Thursday aimed at restoring stability after an unprecedented economic crisis last year that led to the toppling of then-president Gotabaya Rajapaksa.The bank said Thursday it was offering a 30 percent reduction on dollar-denominated bonds, including the international sovereign bonds (ISB) that make up more than a quarter of Sri Lanka's total foreign debt.

The ongoing Digicel debt saga has seen an agreement between Denis O’Brien, the founder of the group, which is active as a mobile operator across Caribbean and Central America, and bond investors that will see the businessman lose most of his stake in the telecoms group in exchange for a US$1.7 billion debt write-off.

(Bloomberg) -- Sri Lanka is on the final lap of unveiling its debt restructuring strategy, highlighting a key step in the nation’s efforts to pull its economy from the worst crisis in seven decades. Most Read from BloombergUBS Preparing to Cut Over Half of Credit Suisse WorkforceStudent Loan-Relief Backers Warn Biden ‘Failure Isn’t an Option’Wagner Chief Lands in Belarus as Putin Says ‘Civil War’ AvertedPickleball Injuries May Cost Americans Nearly $400 Million This Year, According to UBSRussia

SBP has increased the policy rate by 1 percent to 22 percent in an emergency monetary policy committee meeting. But...