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 authorities turned down the ad hoc private creditors first proposal to restructure the ISBs

IMF & Sri LankaOct 19, 2023
Sri Lanka authorities turned down the ad hoc private creditors first proposal to restructure the ISBs

A group of Ad Hoc private creditors submitted a restructuring proposal for ISBs last week, proposing that Macro Linked Bonds (MLBs) be swapped with current defaulted bonds. 20% hair-cut and average, 7 years maturity extension, cash, and PIK coupons were proposed.

While acknowledging the proposal Sri Lanka authorities have expressed their serious reservation about the MLB. However, they are open to more discussions on viable proposals compatible with Sri Lanka’s IMF program parameters.

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