Hamilton Reserve Bank (HRC) has filed a lawsuit against Sri Lanka in the United States after the country defaulted on its debt for the first time in history. Sri Lanka previously obtained a stay order for the HRC case for five months, which expired in March.
The USA, UK, and France supported Sri Lanka's request for a further extension. Sri Lanka has requested an additional five months, emphasizing the importance of implementing restructuring agreements with its creditors by late June/early July 2024, following the second review of the IMF-supported program.