Inflation ( CCPI)0.5% (Aug 2024)
GDP5.3% (1Q 2024)
Unemployment4.3% (4Q 2023)
3M T-Bill Rate9.61%
12M T-Bill Rate10.03%
2Y T-Bond Rate11.05%/ 11.15%
4Y T-Bond Rate12.85% / 12.95%
USD/LKR299/300
Reserves $5.9Bn (Aug 2024)
Cum. Trade Deficit $2,550 Mn (June 2024 cumulative)
Cum. Fiscal DeficitLKR 599Bn (June 2024)

Sri Lanka sought a further extension of a delay of the lawsuit

IMF & Sri LankaMar 3, 2024
Sri Lanka sought a further extension of a delay of the lawsuit

In July 2022, Sri Lanka faced a lawsuit from Hamilton Reserve Bank Ltd for failing to meet external debt payments, totalling USD 12.55 Bn in ISB debts and nearly USD 1.5 Bn in interest dues.

The federal district court in New York granted a six-month stay of proceedings on November 1, 2023. However, as negotiations with external debt holders remain ongoing, Sri Lanka seeks a further five-month extension to the court order, highlighting the ongoing complexity of negotiations with multiple types of the investors.

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