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 | Feb 3, 2023 | Sovereign Bonds, Sovereigns
Sri Lanka has obtained the backing of the Paris Club helping clear a hurdle to unlock a $2.9bn bailout from the IMF, as per Bloomberg sources. The IMF is recently said to have received the assurance from the Paris Club that primarily comprises wealthy, western...
by Amruth Sundarkumar | Dec 15, 2022 | Sovereign Bonds, Sovereigns
Sri Lanka’s foreign minister Ali Sabry said that he expects the nation to receive about $8bn via loans and asset restructurings in 2023. He said that $4-5bn in loans could be expected in 2023 from multilateral agencies besides an IMF deal. The government is also...
