Sri Lanka to unveil debt restructuring plan to creditors amid economic crisis
Hindustan TimesSri Lankan authorities will formally hold talks with international creditors on Friday to start the process of restructuring billions of dollars of its debt and share plans to tackle the island's worst economic crisis in more than seven decades. Sri Lanka's finance and other officials plan to hold a virtual interactive session to share the objectives of its loan package agreed with the IMF on Sept. 1 and the next steps of the debt restructuring process. Sri Lanka's foreign currency debt was $47.3 billion as of end-2021 and local-currency debt at $53.6 billion, according to an update from the Ministry of Finance in August. The foreign currency debt includes $13 billion in international sovereign bonds held largely by private creditors, such as asset managers BlackRock and Ashmore.