Debt restructuring strategy out in April

Central Bank Governor Dr. Nandalal Weerasinghe told Reuters on Thursday that Sri Lanka was planning to announce its debt-restructuring strategy in April.

Sri Lanka would also focus more on talks with its commercial creditors as well, Dr. Weerasinghe said.

The country is expecting to finalise a 2.9 billion U.S dollar bailout from IMF on March 20.”When you see the staff level agreement published – that will contain our commitment to debt restructuring and that will also reveal medium-term debt targets for us to restore debt sustainability on a long-term basis. So somewhere in April we will announce … how we are going to meet those medium-to-long-term (debt) targets. That is the next step,” Dr. Weerasinghe told Reuters.