Second Round of Debt Talks with Private Creditors to Commence Today

Today, Sri Lanka will commence a second round of discussions with commercial bondholders in Washington DC.

The first round of talks, held in March this year to restructure the almost $12.5 billion US international sovereign bonds, yielded little progress.

Sri Lanka aims to finalize a deal by June to ensure it receives a third tranche of the IMF loan.

Private creditors account for 34% of the debt, while commercial and multilateral creditors hold 40% and 31%, respectively.

Positive outcomes from the meeting will result in the overhaul of approximately $27 billion US dollars of foreign debt.