KEY OUTCOME: The Sri Lankan government must turn down the Bondholders’ April Proposal and defer conclusive negotiations to the forthcoming government, duly elected by the people. The government’s proposal also falls short of meeting the needs of the people or providing a sustainable solution to the debt crisis. OVERVIEW: 2 The bondholder […]
Bondholder Proposals: Decline and Defer Read More »
Acknowledge the unjust nature of the global economic order Harsha de Silva, Member of Parliament and Chair of the Parliament Committee on Public Finance (COPF) , addressed the media in Sinhala, on April 17, 2024, shedding light on the recent breakdown of debt restructuring talks between the Sri Lankan government and the international bondholders’
A polite challenge to Harsha de Silva Read More »
Funding Universal Child Benefit through innovative external debt restructuring “There can be no keener revelation of a society’s soul than the way in which it treats its children.” – Nelson Mandela, 1995 Sri Lanka defaulted on its external debt obligations amid a deep economic crisis last year. Across the country, the majority of
Debt-for-Nurture Swaps: Sri Lanka’s Children Need Help Read More »
The IMF Board approved a 48-month extended arrangement under the Extended Fund Facility (EFF) of SDR 2.286 billion (about $ 3 billion) to support Sri Lanka’s economic policies and reforms. The Sri Lanka Government and business elite have welcomed the approval of the 17th IMF program, despite the failures of every one of the previous
IMF Deal: Facts behind the hype Read More »
