Debt Justice
– Sovereign debt
– Domestic debt
Dhanusha Gihan Pathirana Economist Institute of Political Economy Key Takeaways The revised bondholder agreement may cause balance of payments instability even in the short term. The ISB repayments will reach approximately US$ 1.85 billion in 2025 including interest on bilateral debt of US$ 420 million. Coupled with outflows of circa US$ 1.5 billion due to […]
Sri Lanka’s ISB Restructuring Read More »
September 21 was a day of many firsts in Sri Lanka. Millions of people went to the polls to vote in the first presidential elections since mass protests forced the country’s last elected president, Gotabaya Rajapaksa, from office in 2022. It also marked the first time in Sri Lanka’s history that a second round
Sri Lanka’s new president faces uphill battle to revive debt-ridden economy Read More »
Renegotiating the IMF agreement is imperative for Sri Lanka’s economic recovery and future stability. The current conditionalities are not aligned with best practices and pose significant risks to the country’s fiscal health and social well-being. A restructured agreement that includes substantial debt reduction, realistic fiscal targets, and respect for Sri Lanka’s sovereignty over its economic policies
Sri Lanka and IMF Renegotiations Read More »
For more information and interviews contact Tim Jones on +44 7307 620372 New analysis released today shows that Sri Lanka’s bondholders are set to be repaid significantly more than government creditors such as China, under the in-principle restructuring deal agreed in early July. The calculations by UK-based Debt Justice, together with Sri Lankan campaigners Yukthi
Sri Lanka’s bondholders to get repaid 20%-46% more than China Read More »
The Sri Lankan government announced that it has reached an agreement with its foreign private creditors to restructure the $12.5 billion of its external debt that they hold. The agreement incorporates a novel instrument: a macro-linked bond for which the payout is linked to the GDP performance of the debtor country. These bonds are to
Sri Lanka’s Debt Restructuring: A Win for Private Bondholders Read More »
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 »
Put people at the centre of plans for socio-economic recovery and advancement The IMF team is in Colombo for the Second Review of the ongoing Extended Fund Facility (EFF) loan agreement with Sri Lanka and will meet with some civil society organisations and think tanks in Colombo on 19 March 2024, to receive their
CSO’s and TU’s reject cosmetic consultations of IMF Read More »
Microfinance and Credit Regulatory Authority mooted first in 2012 as the Microfinance Regulatory and Supervisory Authority (MRSA) has seen daylight. But could it be the solution it is purported to be, i.e., regulate money lending and microfinance business and provide protection for the customers of money lending and microfinance business? While the socio-economic and political
Microfinance and Credit Regulatory Authority – A fatal flaw Read More »
The International Monetary Fund (IMF) issued an end-of-mission press release on 27 September 2023, with its preliminary findings on economic performance and policies underpinning the first review under the IMF Extended Fund Facility (EFF) arrangement with Sri Lanka. 1 The IMF is yet to reach a staff-level agreement with Sri Lanka that would lead to
IMF lauds developments that worsens the plight of Sri Lanka’s poor Read More »
