COLOMBO :All Sri Lanka's creditors will be treated equally in a planned restructuring of the country's debt, its central bank governor said on Friday, adding that he expected progress in talks with the International Monetary Fund in the next two months.
"All external creditors will be treated equally, whether they are holders, or China or Japan," he said, while warning creditors not to hold up the process. Sri Lanka's economy was hit hard by the pandemic and tax cuts by the populist government of President Gotabaya Rajapaksa. The central bank raised interest rates by a record 700 basis points this month in an attempt to tame rampant inflation and stabilise the economy, but figures released on Friday showed the cost of most goods continued to rise sharply.
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