• Sri Lanka says debt-restructuring talks making progress

    12 days ago - By Chron

    COLOMBO, Sri Lanka - Debt-stricken Sri Lanka's Central Bank chief said Wednesday that the country is making good progress in talks with its creditors to obtain financial assurances for debt restructuring, an important step toward finalizing an International Monetary Fund rescue plan.
    Sri Lanka is bankrupt and has suspended repayment of its $51 billion foreign debt, of which $28 billion must be repaid by 2027.
    It has reached a preliminary agreement with the IMF for a $2.9 billion rescue package over four years. Its completion hinges on assurances on debt restructuring from creditors that...
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