Sri Lanka's new government has approved a controversial restructure of $14.7 billion in foreign commercial credit tentatively agreed by its predecessor, the finance ministry said Saturday.
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This handout photograph taken on September 25, 2024, and released by Sri Lanka's President Office shows the country's newly elected President Anura Kumara Dissanayake, as he addresses the nation in Colombo. Sri Lanka's new president called on September 25, for restarting talks with the IMF "immediately" over a $2.9 billion bailout that threw a lifeline to his bankrupt country but imposed painful austerity. (Photo by Sri Lanka's President Office / AFP) /
2024-10-05 15:41:01
Sri Lanka's new government has approved a controversial restructure of $14.7 billion in foreign commercial credit tentatively agreed by its predecessor, the finance ministry said Saturday.
Former leader Ranil Wickremesinghe announced a deal with international sovereign bondholders and the China Development Bank just two days before he lost presidential elections last month.
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