INSUBCONTINENT EXCLUSIVE:
In the budgetary allocations for the fiscal year of 2024, the Sri Lankan government has earmarked Rs
3 trillion for the implementation of foreign debt restructuring and settlement of international sovereign bonds.Delivering the 2024 Budget
Speech in the parliament this afternoon, President Ranil Wickremesinghe spoke on the measures the island nation has taken to bounce back
from the economic crisis.Due to the space created by the debt restructuring process, the government was able to find resources for relief
measures, the Head of State added.He pointed out that under the debt restructuring supported by the International Monetary Fund (IMF), Sri
restructuring process, the overall macroeconomic stability and the stability of the financial sector will be further strengthened
We have now been able to achieve significant progress in the debt restructuring process
USD denominated new financial instruments should be issued to settle existing international sovereign bonds
Accordingly, for the settlement of existing International Sovereign Bonds, budgetary allocations are required to record the transaction in
