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COLOMBO, June 29 (Reuters) - The World Bank approved $700 million in budgetary and welfare support for Sri Lanka on Thursday, the biggest funding tranche for the crisis-hit island nation since an International Monetary Fund (...
The island nation is asking foreign investors in its international sovereign bonds to take a 30% haircut and is seeking similar concessions from holders of its other dollar-denominated bonds as it seeks to restructure its massive debt, its central bank governor said on Thursday. A severe shortage of dollars tipped the island nation of 22 million people into its worst financial crisis since independence from Britain in 1948 last year, triggering its first foreign debt default in May 2022. Pledging to put its mammoth debt burden on a sustainable track, Sri Lanka locked down a $2.9 billion bailou...
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Sri Lanka announced a restructuring plan for its massive domestic debt on Thursday to meet targets set by the International Monetary Fund (IMF) and aim to turn around its economy, which has been hammered by a financial crisis.
(Reuters) -Sri Lanka announced a restructuring plan for its massive domestic debt on Thursday to meet targets set by the International Monetary Fund (IMF) ...
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Sri Lanka will enter into an agreement with the World Bank for $500 million in budgetary support after the cabinet approved it on Tuesday, the biggest funding tranche for the crisis-hit nation since an International Monetary Fund deal in March.