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A group of Sri Lanka’s ISB holders has written to the IMF expressing their willingness to engage in quick debt restructuring talks. India has already written to the IMF with the assurances of financing, while the members of the Paris Club have expressed that they will formally support the debt restructuring process.
This positive news boosted the stock index ASPI by 1.9% to its highest in nearly four months. Furthermore, the longer-term government bonds gained and CBSL managed to sell a substantial amount of T-Bills to market at the second phase to rollover the short-term debt matured today.