Sri Lanka may not receive substantial debt relief akin to low-income countries like Ghana, Zambia, and Ethiopia under the G20 common framework. The IMF appears to use its standard framework for debt restructuring options, including haircuts, coupon reductions, and maturity extensions.
Sri Lanka defaulted on its external debt in 2022 due to weak foreign exchange inflows, which are significantly lower than those of some other low-income countries that have defaulted.