Oddbean

Sri Lanka to re-engage with private creditors imminently, sources say ========== Formal negotiations between Sri Lankan authorities and international private creditors on over $12 billion in bonds are set to resume imminently after a group of bondholders signed non-disclosure agreements late last week. The talks come after the International Monetary Fund board approved a $336 million installment of the IMF's $2.9 billion program. Sri Lanka plunged into its worst financial crisis in more than seven decades in 2022, with a severe dollar shortage, high inflation, record lows for its currency, and a contracting economy. The IMF bailout secured in March last year helped stabilize economic conditions. The island nation will hold presidential elections by mid-October. #SriLanka #PrivateCreditors #Negotiations #Bonds #InternationalMonetaryFund #FinancialCrisis https://www.investing.com/news/economy-news/sri-lanka-to-reengage-with-private-creditors-imminently-sources-say-3494317