ECONOMYNEXT – Sri Lanka’s Treasury Secretary and Central Bank Governor will leave for Europe to begin direct discussions with bondholders, and wrap up re-structuring by June-July President Ranil Wickremesinghe has said.
According to a summary of a speech made by president in Sinhala, President Wickremesinghe was cited as saying by the President’s media unit, the following at an event at a temple on March 20.
Discussion with China are also ongoing, he said. Borrowings from China Development Bank has been classified as commercial.
“After we get a declaration that Sri Lanka is free from bankruptcy, we also expects to have joint discussion with IMF and World Bank in April,” President
“I expect to complete all these matters by June-July.”
Sri Lanka is also in discussions with the International Monetary Fund this week to reach a staff level agreement, he said.
Presidential and general elections were coming up.
“It’s crucial to finish these activities before the elections,” President Wickremesinghe said.
“Once completed, we will demonstrate to the world that we are capable of repaying our debts, which will lead to the return of aid money that we haven’t received yet and an increase in the country’s dollar reserves.”