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Sri Lanka reaches agreements with external commercial creditors
Colombo, September 19 (Daily Mirror) - Sri Lanka has reached agreements with external commercial creditors to restructure approximately USD 17.5 bn of external debt, achieving a 40.3% Net Present Value (NPV) concession, the President’s Media Division said.
It also announced that Sri Lanka had finalised a deal with China Development Bank to restructure USD 3.3 bn in debt.
“As a result of the debt treatment agreements with Eximbank of China, OCC, CDB, and bondholders, Sri Lanka will have obtained over USD 17 bn of debt service relief during the IMF programme,” the PMD added.
Comments - 66
Comments - Sri Lanka reaches agreements with external commercial creditors
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Joshua Thursday, 19 September 2024 05:22 PM
Good but elections are different kettle or fish. It seems ranil is doing everything based on the election. Too late
36 48
Citizen Thursday, 19 September 2024 10:11 PM
As unelected President please complete all the tasks before you hand over the custody to the new set of rulers .
20 34
Vernon Thursday, 19 September 2024 05:23 PM
You are one of the major fellows, borrowed the highest amount and made SL to be bankrupt.
40 51
C Fernando Friday, 20 September 2024 07:41 AM
Do you have the numbers to back up your claim? I am no fan of RW but it is disgusting when people make such sweeping accusations without providing the figures and other information to prove their claim. Just statements made out of personal hatred.
1 10
Hadira Friday, 20 September 2024 08:35 AM
Yes exactly,from 2015 to 2019 Govt borrowed us dollars 12.5 billion as ISB on heigher interrest which is the major cause for current crisis
5 3
Yohan Thursday, 19 September 2024 05:24 PM
You are loosing the election anyway.Bunch of jokers who does not have any clue when it comes to politics. In 2001 this fellow came to power and did a similar economic recovery but it was the slfp and jvp that benefited from it. This time also same going to happen while seeya will go in to history as a joker nothing else.
34 40
Suhada malli Thursday, 19 September 2024 05:25 PM
Congratulations and a big Thank you for the team that did the negotiations. However President RW is making a big mistake by not giving emphasis to the potential risk of further default and need for further IMF funding by about 2027 if all our targets are not achieved. RWs attempt to mitigate risk of deviation by making IMF conditions a part of our law or statute by passing in parameters the ETA Economic Transformation Act is not good enough as next parliament can shift the goal post with a vote to postpone deadlines. If our country is yet not out of the woods though going in the right direction a good statesman should know to communicate same to the people and ready them for the next possible recession or seek everyone's support to prevent the recession.
13 25
Man Friday, 20 September 2024 06:25 AM
SL out of bankruptcy announced, early this year too. So, it is another edited drama of Ranil, during the silent period to protect him from all facts in nullifying his statement as it is fake. Creditors shall make an announcement for the authenticity. Not by him.
7 1
Suhada malli Thursday, 19 September 2024 05:30 PM
Need of the hour is a brutally honest President who will talk straight and will be transparent with the truth. We need to give confidence to our foreign diaspora and local industrialists to start investing in Sri Lanka as that will encourage foreign investors. We need to keep citizens alerted of the possible risks at a time when global warfare also is hotting ùp. RW must be a statesman and stop been a politician.
14 31
Raven Thursday, 19 September 2024 11:54 PM
He has proven beyond any doubt that he's a Statesman and not a politician. The whole world has already accepted it. He can walk into any audience in any part of the world with confidence and pride.
0 7
SP Friday, 20 September 2024 12:37 AM
Politician? Not a statesman? If Ranil is only doing politics then what in the world the other two guys - Anura and Sajith are doing? Why are we so blind and keep moving towards an abyss! Blaming the guy who has delivered and worshipping his opponents who have only talk, talk and talk to offer!
0 6
Man Friday, 20 September 2024 06:28 AM
The truth announced at the last moment to protect him from all facts in nullifying his statement as it is fake. Creditors shall make an announcement for the authenticity. Not by him.
4 1
Fernando Friday, 20 September 2024 10:03 AM
Over to you "man" please check international financial news and keep quiet without wasting time here.
1 1
Veta Thursday, 19 September 2024 05:41 PM
Too late
22 41
Dinuka Thursday, 19 September 2024 05:43 PM
Ranil the man. The guys main focus has been to get Sri Lanka out of a pit, while others have been focusing on pulling his leg and attempting to prevent what he was so focused on delivering on. The electorate which judge each other in a couple of days.
48 52
Man Friday, 20 September 2024 06:29 AM
Not Ranil but ordinary people by paying more taxes and as a result of soaring prices, dispelled Qs. Not a talent of Ranil.
6 1
Athk69 Thursday, 19 September 2024 05:57 PM
This is good news for Sri Lanka. Not too sure, how many will understand its implications though. Hope that as a country, irrespective of political and ideological differences, the good things done, will continue after the elections.
14 38
Man Friday, 20 September 2024 06:31 AM
Creditors shall make an announcement for the authenticity. Not by him.
6 2
Rana Thursday, 19 September 2024 06:04 PM
Truely remarkable achievement. Thanks RW for making life little easy for AKD from Sunday onwards.
25 37
Ravi Thursday, 19 September 2024 10:00 PM
AKD won't win. Even he does it's not easy for him since he has to abide by the conditions Ranil has agreed. Lol.
29 26
SP Friday, 20 September 2024 12:44 AM
AKD and his bunch of academics (never heard of before) don’t have a clue on how to run a modern economy. If Ranil doesn’t win we are really doomed!
1 6
Citizen Thursday, 19 September 2024 06:17 PM
Will it be the last achievement of RM or will he continue to make more changes? We will get an answer on 22nd Sep....!
7 17
SP Thursday, 19 September 2024 06:21 PM
So Ranil (and his young capable team) has delivered their undertaking in full - honourably and professionally. Just like to hear now what the ‘Comments Brigade’ has to say. Or for that matter Anura and Sajith. Laugh or cry!
20 39
sach Friday, 20 September 2024 02:13 AM
have u gone through the agreement?
2 0
Man Friday, 20 September 2024 06:37 AM
After the elections you will realize that it is another fake story of Ranil as he did early this year with his announcement, SL out of bankruptcy from today. Who believes.
8 2
Gamini Friday, 20 September 2024 03:37 PM
Man is not happy for problems to be resolved
0 0
Eddy Thursday, 19 September 2024 06:23 PM
Thank you Mr President! It seems to be a sign of RW retain the power for the next term too.
28 36
SM Thursday, 19 September 2024 06:32 PM
Great! Thanks!
19 29
SLEx Thursday, 19 September 2024 06:54 PM
Amazing news for Sri Lanka. Now to just continue with the progress with whoever comes!
8 36
Buddhist Thursday, 19 September 2024 06:56 PM
First of all, the important part of the statement is "Net Present Value"—the question is how it was calculated and what assumptions were taken into account. Secondly, US$17 bn debt service relief—what are the terms of this relief? How was it calculated? I smell a rat in these statements. In addition, were the agreements signed or only verbal? There have been many a slip between the cup and the lip.
17 20
Ravi Thursday, 19 September 2024 07:04 PM
Thanks Mr. President. Not everyone will appreciate this. But I know you will feel a real satisfaction for this huge achievement. We are truly indebted for your sacrifice and commitment. Without your efforts Sri Lanka would be another Bangladesh by now.
19 36
Man Friday, 20 September 2024 06:41 AM
As he did early this year with his announcement, SL out of bankruptcy from today. Who believes.
5 2
Nilantha Thursday, 19 September 2024 07:05 PM
Wonderful news. Thanks a lot Ranil.
16 33
Bimal Thursday, 19 September 2024 07:07 PM
Bravo. Nice work Ranil. The entire Sri Lanka will rally around you for your victory on the 22nd.
25 32
Dinesh Thursday, 19 September 2024 07:08 PM
Sri Lanka has underwent lot of suffering, pain and agony due to a simple mistake of not electing you 20 years ago. We will not let that repeat this time.
16 34
Buddhist Thursday, 19 September 2024 07:15 PM
Is it ethical for Ranil to make this move at this time? Sajith and Anura have openly declared that they will renegotiate with the IMF, which means renegotiating certain conditions with the bondholders may also become necessary. Is Ranil doing this knowing very well that by making this move, he will technically place another barrier for new negotiations with the IMF and bondholders?
25 19
Scranjitha Friday, 20 September 2024 02:36 PM
Foolish statement. Its a pn going process. The negotiations commenced long before. The quicker we finalize negotiation and bring an end to the Bankrupt Lable.
0 0
Prematilleke mawella Thursday, 19 September 2024 07:29 PM
international sovereign bonds are we borrow from mafia money lenders at a fire rate. Ranil Wickramasinghe from 2015-2019 took $12.5 billion this fire interest rate bonds. now he is trying to show he did a great achievement by agreeing to repay. These loans were not took for the public of Sri Lanka Sri Lankan, but for his own stooges.
22 15
scranjitha Friday, 20 September 2024 02:40 PM
Blatant lie. It shows your ignorace.
0 0
Gamini Friday, 20 September 2024 03:39 PM
Those were taken to repay the loans taken by Rajapakse's. RW had stated that in 2015- refresh you memory
0 0
Raj Thursday, 19 September 2024 07:33 PM
This is fishy. What kind of democratic leader would sign such an important agreement on the eve of an election ? Isn’t Ranil a member of world democracy council or something similar? This shows that Ranil expects democracy only from others but he is not practicing.
24 18
Suren Thursday, 19 September 2024 09:24 PM
A responsible leader who has continued to be focused on the main game of getting the economy back in order up to the end of his current term, rather than political campaigning for 6 to 18 months. The electorate will reward his commitment and ethic and reward h8m with their trust for him to lead the country for a further 5 years. Thank you Ranil and the team for a job well done.
13 27
Man Friday, 20 September 2024 06:44 AM
Not Ranil but ordinary people by paying more taxes and as a result of soaring prices, dispelled Qs. Not a talent of Ranil.
4 1
Man Friday, 20 September 2024 06:49 AM
Ranil's VFS deal is still in operation and it is a contempt of Court and dictatorship of Ranil as he disregards the constitution and contempt the court, in every sense. No rule of Law.
4 2
Tissa Fernando Thursday, 19 September 2024 07:37 PM
In desperation, there appears to be a constant flow of lies in the final days prior to the presidential election.
21 20
Liberal One Thursday, 19 September 2024 07:56 PM
NPP will add $17 billion in debt in no time as a result of social hand outs. We will be back to square one in 2027.
14 27
Sarangan L Thursday, 19 September 2024 11:21 PM
You should be writing fictional stories and in Srilanka too. I see many guilible fools here to give thumps up to it.
13 10
Man Friday, 20 September 2024 06:52 AM
Gullible people are for the NPP/JVP policies as (i) Collecting 500 US $ each from Sri Lankan's who have migrated or abroad. (ii) Printing money (SL) resulting inflation (iii) Sell whatever available (iv) Take over all the Fixed deposits of Sri Lankans. (v) Money that swindled or illegally earned, to be made legal for using for government expenses. (vi) Devolution of Judicial power to carders with dispute resolution councils, like in 1988-90. (vii) Allowing loans for public without any guarantor so that the depositors will have no money in their accounts. What a way indeed!
1 2
2 Bad Thursday, 19 September 2024 08:19 PM
Better late than never. Unfortunately, it doesn't help one bit on RW`s competency in the eyes of the voters as its too late to spin anything towards his advantage and most are now aware that he was primarily responsible for this financial crisis. Certainly, his extravagance in the way he wastes public money doesn't help him either.
17 23
Man Friday, 20 September 2024 06:53 AM
Ranil's VFS deal is still in operation and it is a contempt of Court and dictatorship of Ranil as he disregards the constitution and contempt the court, in every sense. No rule of Law.
2 2
Joshua Thursday, 19 September 2024 08:24 PM
Ok. But the new president will take it forward
18 11
DOT Thursday, 19 September 2024 08:48 PM
Narrow escape !
9 5
Nimal Thursday, 19 September 2024 09:26 PM
Show the Math Professor RW
9 12
Pradeep Thursday, 19 September 2024 09:38 PM
Doing cheap politics at last moment also, it is just a statement by Ranil's media devision, no facts, nobody can question, any matter you will not get even 15% of votes
17 18
Man Friday, 20 September 2024 06:56 AM
After the elections, everybody will realize that it is another fake story of Ranil as he did early this year with his announcement, SL out of bankruptcy from today. Who believes. This is announced at the last moment to protect him from all facts in nullifying his statement as it is fake. Creditors shall make an announcement for the authenticity. Not by him.
3 1
M Fernando Thursday, 19 September 2024 09:52 PM
Stop ! Stop ! Please !! I don't think I can take much more Good News in the runup to the election. So many wonderful things, hitherto advertised by the same PMO people as "impossible due to IMF" have miraculously come to pass.! The belt tightening can be loosened, the haircut I was supposed to have is now not necessary, Suddenly : Less Taxes, Increased Minimum Wage, Building Cars, Importing Cars, Cheaper Fuel, Cheaper Water, Cheaper Electricity, Commissions for This, That and the Other. I have not heard of increased Interest for my FD's and retirement savings but we still have a few days so I live in hope ! Desperate Times, Desperate Measures I guess
17 10
Who else is smarter than RW. Thursday, 19 September 2024 10:55 PM
You are the man Hon RW. Now what do you say AKD? Dilakshan, you're going to be very busy tomorrow.
9 15
SP Friday, 20 September 2024 12:24 AM
One man delivers and the ignorant and the ‘waiting in the wings’ rest has started criticising the details! Typical of Sri Lanka. We are in debt mainly for building comfortable roads (remember the pot holed broken stuff we used to have) and much needed infrastructure. True it could have been done better. But are we going to reward the gang that went on destruction of the same infrastructure, for example the electricity network (I know this personally because I was in charge of that stuff in 87-89) not to mention the terror unleashed on the innocent public at that time. Our country is doomed. We never learn!
0 3
KP Friday, 20 September 2024 12:32 AM
If we want to change the political culture, how about being honest and giving credit where it’s due, even if it’s an opponent. Thank you RW for pulling the country out of bankruptcy.
0 4
mina Friday, 20 September 2024 01:16 AM
Ranil can enjoy the news sipping a cup of tea until early hours of 22 september 2024
3 0
SP Friday, 20 September 2024 01:23 AM
Sajith Anura don’t be ‘sour grapes’. Learn from this ‘cunning fox’! Or just leave him alone to deliver the good stuff for our nation! Ranil you beauty! As the Aussies say!
0 4
Kevin Friday, 20 September 2024 02:07 AM
No confirmation from creditors.
4 0
Lalith Friday, 20 September 2024 02:22 AM
The saddest part of democracy is both stupid and wise get one vote each. The country with less wise people, will forget what kind of Sri Lanka we witnessed in 2022. My fellow Sri Lankans, this is not a time for trial. Give it to man who proved himself for last two years.
0 4
Herman Perera Friday, 20 September 2024 05:08 AM
RW goes around the Country about what he has Achieved, but sad to say THE COUNTRY IS IN DEBT of US$17.5 BILLION. Thats why its called SRI LOANKA.
2 1
Jude Friday, 20 September 2024 06:00 AM
What all governments in SL did, borrowing money. Some of the politicians think borrowing money is a great achievement!! They should know that they're mortgaging the country for next 50 years. What Ranil did for last few years was restructuring the debt. SL government never REPAID LOANS and the Debt.
2 1
Gamini Friday, 20 September 2024 03:33 PM
check if AKD can do that
0 0
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