India first to formally notify IMF assurance and support to Sri Lanka’s external debt restructuring

Committed to continuing negotiations with the Sri Lankan government on medium to long term debt restcturing plans via interest rate reductions, maturity extensions, or similar. Outlined expectation that Sri Lanka should seek equitable debt treatment from all commercial and official bilateral creditors.

https://www.ft.lk/front-page/India-first-to-formally-notify-IMF-assurance-and-support-to-Sri-Lanka-s-external-debt-restructuring/44-744268

Daily FT

2023-01-25

සබැඳි පුවත් සහ විශ්ලේෂණ

SriLankan loses Rs. 12.9 b in Q1

SriLankan Airlines recorded a Rs. 12.9 billion net loss in Q1 FY25, driven by cash flow challenges, legacy issues, and financial costs from past debt. ...

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SL pays $ 503 m for 1H debt servicing

By June 2024, Sri Lanka's external debt had reached $37.5 billion, with $8.19 billion in unpaid debt service accumulating since the April 2022 debt standstill on bilateral and commercial loans.

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Workers’ remittances decline in September

In September 2024, Sri Lanka’s remittances reached $556 million, tourism earnings were $181 million, and gross official reserves rose to $6 billion, covering 3.9 months of imports.

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