Sri Lanka suspended selected external debt (ISB, Bilateral, and SLDBs) in April 2022. Since then, the country has not settled the principal loan amounts and interest payments, that matured during the last 17 months. The principal amount outstanding has surpassed USD 4Bn by the end of July.
The country expects to restructure all the above loans under EDR (external debt restructuring). SLDB has been restructured by the end of September by converting the entire amount to LKR debt. But ISBs and Bilateral are yet to restructure. Interest outstanding of ISBs as of July stands at USD 1,059Mn.