Sri Lanka completes $12.55 billion debt restructuring through bond swap, aiding economic recovery.

From Investing.com: 2024-11-26 03:05:38

Sri Lanka launched a bond swap to complete $12.55 billion debt restructuring, aiding economic recovery. Bondholders have until December 12 to vote on the proposal, including a macro-linked bond tied to GDP growth. Defaulting in May, the nation’s deal with bondholders will reduce debt service payments by $9.5 billion over the IMF program.

President Dissanayake calls the bond restructuring an important milestone for Sri Lanka. Amid political changes, the country’s bonds fluctuated, with fears of revisiting the IMF deal. However, Dissanayake’s willingness to conclude the agreement brings stability to the process.



Read more at Investing.com: Sri Lanka launches long-awaited bond swap in key step to emerge from default By Reuters