Sri Lanka announces successful completion of OCC & IMF consultation process

Sri Lanka completed consultations with the Official Creditor Committee (OCC) and the International Monetary Fund (IMF) regarding the Agreement in Principle (AIP) for International Sovereign Bonds (ISBs).

The Finance Ministry of Sri Lanka announced that it has successfully concluded consultations with the Official Creditor Committee (OCC) and the International Monetary Fund (IMF) regarding the Agreement in Principle (AIP) reached on September 19, 2024, with holders of International Sovereign Bonds (ISBs). Formal confirmation has been received from the OCC that the AIP terms align with the Comparability of Treatment (CoT) principle, and the IMF staff has affirmed that these terms meet the program parameters for the second review under the Extended Fund Facility (EFF) arrangement. Following the recent presidential elections and the new government's appointment, Sri Lanka has endorsed the program debt targets and intends to expedite the ISBs’ restructuring transaction in accordance with the agreed terms, expressing gratitude to all creditors, the IMF, and the OCC for their support during this process.

Sri Lanka announces successful completion of OCC & IMF consultation process | Daily News

Daily News

2024-10-04

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