by Arundhati Behera | Mar 21, 2023 | Sovereign Bonds, Sovereigns
Sri Lanka has finally secured IMF approval for a $3bn loan program, which will serve to bolster an economy grappling with soaring prices and dwindling foreign reserves. The 48-month loan program, which was widely expected, will also be crucial in the restructuring of...
by Arundhati Behera | Mar 20, 2023 | Sovereign Bonds, Sovereigns
Sri Lanka’s dollar bonds have been inching up in anticipation that a $2.9bn IMF bailout will be approved soon. The sovereign’s dollar bonds have already risen 20% this year, rewarding Sri Lanka’s efforts to steady its economy, including cutting...
by Arundhati Behera | Mar 8, 2023 | Sovereign Bonds, Sovereigns
Sri Lanka expects the IMF to approve a $2.9bn loan soon as its President Ranil Wickremesinghe revealed a shortage of foreign currency for all imports amidst signs of economic recovery. The IMF board would meet on March 20 to review a preliminary staff-level agreement...
by Amruth Sundarkumar | Mar 6, 2023 | Sovereign Bonds, Sovereigns
Dollar bonds of El Salvador rose by over 7% across the curve last week. The country had gone ahead with passing a law allowing for issuing bitcoin bonds despite backlash from international institutions like the IMF. However, despite some backlash, the IMF noted...
by Amruth Sundarkumar | Mar 3, 2023 | Singapore Dollar Bonds, Sovereign Bonds
Pakistan’s dollar bonds were lower by 1.5 points across the curve to trade at 40 cents on the dollar. As per Bloomberg, its dollar bondholders are bracing for a potential default with the nation having ~$7bn in debt repayments by June, that includes a $2bn...
by Amruth Sundarkumar | Mar 2, 2023 | Sovereign Bonds, Sovereigns
Ghana’s dollar bonds were down about 1 point across the curve after it missed a self-imposed end-February deadline to restructure its bilateral debt. Ghana’s Finance Minister Ken Ofori-Atta said that he wanted to reach a restructuring agreement with...
