Inflation ( CCPI)6.4% (Jan 2024)
GDP1.6% (3Q 2023)
Unemployment5.2% (2Q 2023)
3M T-Bill Rate9.79%
12M T-Bill Rate10.02%
2Y T-Bond Rate11.05%/ 11.10%
4Y T-Bond Rate12.20% / 12.30%
USD/LKR313/314
Reserves $4.5Bn (Jan 2024)
Cum. Trade Deficit $4,866 Mn (Dec 2023 cumulative)
Cum. Fiscal DeficitLKR 2,020 Bn (Nov 2023)

US court turns down GoSL motion against lawsuit filed by Hamilton Reserve Bank

InternationalApr 10, 2023
US court turns down GoSL motion against lawsuit filed by Hamilton Reserve Bank

A New York court has denied a motion by the government of Sri Lanka to dismiss a lawsuit brought by Hamilton Reserve Bank following the default by the GOSL on a sum of more than USD 257 Mn of bonds and interest payments. Clifford Chance US LLP represented Sri Lanka government.

The Government has asked for the case in New York over the country’s debt default to be dismissed, claiming that the litigation initiated by one bank is an “apparent attempt to gain leverage over a nation in crisis and jump ahead of other international creditors.” - DM

Disclaimer

Charts represents an assessment of the market environment as of the date indicated and it is subject to change; and is not intended to be a forecast of future events or a guarantee of future results. This information should not be relied upon by the reader as research or investment advice regarding the funds or any issuer or security in particular. The strategies discussed are strictly for illustrative and educational purposes and should not be construed as a recommendation to purchase or sell, or an offer to sell or a solicitation of an offer to buy any security. There is no guarantee that any strategies discussed will be effective.

The information presented does not take into consideration commissions, tax implications, or other transactions costs, which may significantly affect the economic consequences of a given strategy or investment decision. This document contains general information only and does not take into account an individual’s financial circumstances. An assessment should be made as to whether the information is appropriate in individual circumstances and consideration should be given to talking to a financial advisor before making an investment decisions.