INSUBCONTINENT EXCLUSIVE:
Sri Lanka is urging China to share with other creditors the terms of its recent $4.2 billion bilateral debt deal, a step needed to help the
co-led by Japan, India and the Paris Club, an informal and influential group of Western lenders
countries to manage defaults
bilateral lender to emerging markets, as well as a bigger role played by private creditors.Sri Lanka is asking China to share the deal terms
creditors are seeking a separate deal
An ad hoc group of bondholders, organized by advisers including Rothschild - Co., recently submitted a proposal to Sri Lanka that includes
taking a 20% haircut and issuance of new debt, including a so-called macro-linked bond.Incorporating China, along with other rising
bilateral creditors such as India and Saudi Arabia, into the established order of the Paris Club has been a lengthy process and a main focus
deal between Sri Lanka and the Export-Import Bank of China, which has increased confusion over the process
travels to China to participate in the Belt and Road Forum in Beijing
A staff-level agreement is the first step needed in order for a second tranche of $334 million in loans.Sri Lanka and the IMF are close to
reaching such a staff-level agreement following talks in Morocco this week, according to people involved in the discussions, who asked not
