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)

Government proposal - Sri Lanka undertakes to settle USD 14.2Bn for the ISBs for the period : 2024-2038

IMF & Sri LankaApr 22, 2024
Government proposal - Sri Lanka undertakes to settle USD 14.2Bn for the ISBs for the period : 2024-2038

Sri Lanka has put forward a counter-proposal to ISB investors, requesting a 20% reduction of the already accrued interest (April 2022 - April 2024) for default bonds and a 30% reduction on the principal amount of the ISB bonds. Instead of settling the full USD 1.678 Bn interest payments and USD 12.55 billion in principal payments, the government proposed to settle USD 1.341 billion in interest payments and USD 8.789 Bn in principal payments.

This counter-proposal aims to renegotiate the terms of the ISB bonds to reduce the financial burden on Sri Lanka while still addressing its repayment obligations. The total settlement proposed by the government is USD 14.228 Bn over the period from 2024 to 2038.

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