The Sri Lankan Government invited the Ad Hoc Group of Bond holders to further engage with the country’s debt advisors under existing non-disclosure agreements to progress the matter in a reasonable and viable way.
The government issued a statement yesterday responding to the Group statement of the Bond Holders dated October 13, 2023 and accompanying debt restructuring proposal relating to Sri Lanka’s outstanding International Bonds.
The statement said that the authorities of Sri Lanka wish to acknowledge the group’s proposal and added that the proposal has not received a favorable response from Sri Lanka.
It added, the authorities and their advisors intend to take the necessary time to consider proposal and assess its compatibility with the parameters in Sri Lanka’s IMF support programme and comparability of treatment principal, compliance with both of which is an imperative for the authorities.
The authorities have already expressed to the bondholders advisors their serious reservations about the construct of the Macro – Linked bonds proposed by the group.
The authorities’ belief that the indicative debt restructuring scenario shared with commercial creditor May 2023 provided a robust basis for engagement.
The statement added that the Government has also understood that the group may have diverging views on the GDP and exchange rates trajectories projected as part of the IMF supported program. The authorities are therefore ready to discuss potential value recovery instruments if structured appropriately, taking into account the position of other creditors.
The Judicial Service Commission (JSC) has interdicted Colombo Fort Magistrate Kosala Senadheera.
Mr. Ali Sabri Rahim, a Member of Parliament (MP) for Puttalam District whom an open warrant had been issued, attended a public ceremony at Al Aksha National School in Kalpitiya today (16) as the special guest of honor.
The Supreme Court today refused interim relief in an application filed by President’s Counsel Senaka Walgampaya seeking an Order from the Supreme Court compelling the President to appoint judges to fill the existing vacancies in the Court Of Appeal.
The deadline for online applications to the 2024 G.C.E. Advanced Level (A/L) Examination has been extended until July 12, the Department of Examinations said.
Gazette on new speed limit regulations to be issued within two weeks
Cabinet has approved a proposed amendment to the Constitution that a referendum would be required to extend the Presidential and Parliamentary term beyond five years.
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