Sri Lanka must reach debt restructuring agreements with its official and private creditors before the second review in June next year, said Peter Brewer, the International Monetary Fund’s Senior Mission Chief for Sri Lanka. Sri Lanka Latest News
He said that in principle the agreements reached with the creditors should be converted into written agreements before the second review.
The IMF team is scheduled to visit Colombo in March-April next year and is expected to complete the second review by June.
Sri Lanka has entered into in-principle debt restructuring deals with the Official Committee of Creditors (OCC) led by France, China and India and with China’s Exim Bank.
However, Sri Lanka has yet to make a deal with its commercial creditors or bondholders.
