Sri Lanka expects to discuss the progress it made so far to secure the continuation of the IMF bailout package of USD 2.9Bn for the next four years. The government is confident about the progress on quantitative and qualitative targets set by IMF that are required to be fulfilled to receive the second track of loan installment of about USD 311Mn.
The country has restructured its SLDBs (FX-denominated domestic debt), 84% of the Superannuation funds (LKR-denominated domestic debt) and expects to complete the restructuring of the LKR-denominated debt held by CBSL along with CBSL advancers given to the government, which will complete the domestic debt restructuring process.
It was learned that external debt ( loans taken from other countries and private investors) restructuring will commence only after completion of the domestic debt restructuring.