Inflation ( CCPI)1.7% (June 2024)
GDP5.3% (1Q 2024)
Unemployment4.3% (4Q 2023)
3M T-Bill Rate9.55%
12M T-Bill Rate10.07%
2Y T-Bond Rate10.55%/ 10.65%
4Y T-Bond Rate11.80% / 11.85%
Reserves $5.6Bn (June 2024)
Cum. Trade Deficit $2,180 Mn (May 2024 cumulative)
Cum. Fiscal DeficitLKR 361Bn (April 2024)

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


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