Sri Lanka is awaiting a response from its private bondholders regarding the counter-proposal sent for the restructuring of debt.
Last October, bondholders offered a 20% haircut and the acceptance of macro link bonds, which the Sri Lankan government rejected.
Last week, Shehan Semasinghe stated that a positive response to the counter proposals is expected very soon.
According to the IMF, Sri Lanka should have reached an in-principal agreement with the private creditors ahead of the second review of the program.
The second review is currently underway and is slated to conclude on the 21st of March.
So far, Sri Lanka has reached agreements with its official creditors, including Paris Club and non-Paris Club members.