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Sri Lanka strikes deal with creditors on debt restructuring to clear way for IMF funds

IndiaTimes Wednesday, 29 November 2023
On Wednesday, Sri Lanka announced that it has, in principle, finalized an agreement with a consortium of creditors, including India and Japan, for the restructuring of its debt. This development is a pivotal step forward in accessing the second tranche of a $2.9 billion bailout package from the International Monetary Fund. The agreement, facilitated by the Official Credit Committee, encompasses around $5.9 billion of the country's outstanding public debt.
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News video: Sri Lanka Crisis | Creditor Nations Agree on Debt Restructuring of the Island Nation | Oneindia News

Sri Lanka Crisis | Creditor Nations Agree on Debt Restructuring of the Island Nation | Oneindia News 02:07

 Sri Lanka anticipates significant relief from its economic turmoil. Reports indicate a pending debt-restructuring agreement with creditor nations, pivotal amid the country's $36.6 billion external debt. Pending IMF approval may secure up to $900 million in funding, but bondholder negotiations remain...

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