IMF & Sri Lanka
Sri Lanka send revised debt restructuring proposals to bond holder via its legal and financial advisors
International media reported earlier that Sri Lanka ISB bondholders were not happy with the progress we made so far on negotiations. The government had initially proposed a 30% haircut with debt reprofiling. Details of the revised proposal are yet to be made available.
Rob Hawcroft has suggested a potential compromise involving a 25% haircut and approximately 2 1/2 years of Past Due Interest (PDI), aiming for a par recovery in the high 80s, nearly 90 cents. Additionally, two new bonds, with maturities of 5 years and 10 years, and a 6%
CBSL balance sheet improve further in June