The International Monetary Fund said on Thursday that Sri Lanka’s agreements with China and other creditor nations to restructure about US$10 billion in bilateral debt took the island nation a step closer towards restoring debt sustainability.
Sri Lanka still needs to convince bondholders to restructure about US$12.5 billion in international bonds, on which the global lender said it hopes to see swift progress in the near future. Sri Lanka will seek approval from its parliament on the deals on July 2, President Ranil Wickremesinghe said addressing the nation after the agreements were inked.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: