Sri Lanka To Default on Dollar Bonds. Track Sri Lanka Bonds & News
Sri Lanka has announced suspension of payments on its $51bn external debt calling it a “last resort” emergency measure, pending restructuring. Market participants consider the move as tantamount to default. Its creditors, including foreign governments, are...
Argentina’s Local Bond Default Fears Jump
Default fears on Argentina have renewed, now in its local bond markets with creditors have become reluctant to roll over maturing government bonds. Bloomberg notes that it is rumored that officials are running out of financing options and that a local bond...
IMF Delays $238mn Kenya Loan for Budget Purposes
The IMF board has delayed a $238mn loan to Kenya. While the board did not cite the reason for the delay, Bloomberg reports that the board meeting is only expected in the “coming weeks” to give final approval. The expected loan was part of a $2.34bn extended credit...
Chinese Bank Consortium Lends Pakistan $2.3bn to Stave off FX Crisis
Chinese state banks have pledged $2.3bn to the State Bank of Pakistan to save the country from potentially defaulting on its outstanding international debt, amid declining confidence in its repayment ability. According to FT, the Chinese loan will help increase...
