Inflation ( CCPI)1.7% (June 2024)
GDP5.3% (1Q 2024)
Unemployment4.3% (4Q 2023)
3M T-Bill Rate9.14%
12M T-Bill Rate9.95%
2Y T-Bond Rate10.10%/ 10.20%
4Y T-Bond Rate11.60% / 11.70%
USD/LKR303/304
Reserves $5.6Bn (June 2024)
Cum. Trade Deficit $2,180 Mn (May 2024 cumulative)
Cum. Fiscal DeficitLKR 361Bn (April 2024)

Sri Lanka private creditors propose 20% haircut and GDP linked Bond

IMF & Sri LankaOct 15, 2023
Sri Lanka private creditors propose 20% haircut and GDP linked Bond

A group of private holders of Sri Lanka's ISBs proposed a restructuring plan where ten new bonds are to be issued with the first series maturing on December 31, 2027, and the final series maturing on December 31, 2036. The proposal suggests coupons as a mix of cash and payment in kind, with cash coupons from 2028 paying between 8% and 9.5%.

The step-down option will be triggered if Sri Lanka's GDP current prices for the 2026-2027 period are below USD98.9Bn when measured in 2028.

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