Sri Lanka signs agreement restructuring USD 5.8 Bn debts

26 June 2024 02:25 pm Views - {{hitsCtrl.values.hits}} 15 Bookmark

A A A

Colombo, June 26 - Sri Lanka has reached a final restructuring agreement for $5.8 billion of debt with its bilateral lenders' Official Creditor Committee in Paris.

According to the President’s Media Division, the agreement was finalized a short while ago.

Comments - 15

Nimal 1 Wednesday, 26 June 2024 02:49 PM

Restructuring! This is a respectable word for borrowing money to lead a comfortable life and shamelessly passing the burden of repayment to generations yet unborn.

10 160

Saman Wednesday, 26 June 2024 03:00 PM

But that's only a small fraction - the total is 100 Billion dollars

185 171

politics Wednesday, 26 June 2024 03:08 PM

I wonder if Ranil is using this debt issue as means to win the election. If it morally and ethically right to use this to win the election. How long you can be fooling people of this beautiful country: Ranil, CKB, Sajith and some others think, politics is here family matter, and they should be ruling this country. is it right? now youths have begun to ask these questions. why not we need to give this leadership to young and youths of this country. more than 50 percentage of our MPS are over 75 and counting their years/ moths or days in this world, why they greed for power? let us see fellow the principle of Aprarigrha in Jainism all our greed will ends with this.

80 57

Man Thursday, 27 June 2024 09:01 AM

It shall be the majority wish of the voter and not of one individual as you. Family legacy is not that relevant but the action matters while being in the opposition unlike any other. Just talking and drinking many glass of waters when asked about the Foreign minister and Finance minister, skipping debates on economic councils, collecting files and meeting a person accused by them and the like expose thier incompetence and heading for Gota part II.

0 1

Man Wednesday, 26 June 2024 03:17 PM

No haircut of not less than 40% like Argentina and Ghana managed. Because our government is not that capable to enforce a haircut as such like on the poor people's ETF and EPF. After signing it, what is the purpose in submitting to the parliament, wasting public money, after doing a significant damage to the country. Ridiculous! Lighting crackers, too.

176 151

senthilnathan Wednesday, 26 June 2024 04:11 PM

any lender will try to reach an agreement at any cost in order to recover the money advanced .This is what a bank generally does to a loan defaulted as such some foolish ruling politicians are trying to claim credit for this .

75 38

R Wilke Wednesday, 26 June 2024 04:27 PM

Share the content of the plan with the people.

21 11

Mizaru Wednesday, 26 June 2024 04:47 PM

Congratulations! Can we the ordinary citizens of Sri Lanka that have fair IQ know the terms and conditions of the agreement. How much extra interest payments will added due this restructuring. What was the percentage haircut? Everyone is tight lipped on these matters.

1 23

SLEx Thursday, 27 June 2024 09:03 AM

Ah yeah. Expose market sensitive data beforehand so your ordinary mind is at ease.

0 0

Patriot Wednesday, 26 June 2024 04:47 PM

Well done Ranil. This is a huge achievement. Haters will say things. But we all know importance of this milestone.

514 637

ANY PRESIDENT AND GOVERNMENT WOULD HAVE COME TO AN AGREEMENT NO MATTER IF THE TERMS AND CONDITIONS ENDED UP BEING. Wednesday, 26 June 2024 05:17 PM

Any President non elected by the people or put in by a scumbag, would have had to come to an agreement or what was the ALTERNATIVE?? THE BILATERAL LEADERS/OFFICIAL COMMITTEE IN PARIS GOING TO DO?? TAKE OVER OUR COUNTRY!!. ANYONE HAS AN IDEA OF IF THIS AGREEMENT WASN'T REACHED, WHAT WOULD THE OUTCOME HAVE BEEN??. NO FUNDS RELEASED AND ????

23 5

Nugawela Siripala Wednesday, 26 June 2024 06:19 PM

Refused Pambaya talking this as a great achievement because he has no children to suffer!! Other Kaalanniyas with children support him as Pimpiyo!!

29 2

Sirimewan Dharmaratne Wednesday, 26 June 2024 08:12 PM

In most countries agreements of this nature would be dealt with sadness and humiliation but in Sri Lanka for politicians this is an occasion for celebration. If you go to your creditors and beg them give more time to pay a debt because you are skint, would you come home and open a bottle of champagne? On this 'success' there will be gratuitous spending sprees now because apparently Sri Lanka is no longer bankrupt. Go figure!

1 3

Logical Wednesday, 26 June 2024 08:14 PM

A 75% haircut is needed to be able to get to a sustainable level in the future.

0 60

Cherath Thursday, 27 June 2024 05:40 AM

The big question is - How long can this debt restructuring go on without an aorta of a measure to enhance the productivity to stem the indebtedness? Haircuts and extensions after extensions only delays the inevitable collapse of the country beyond reparation. This also means more importantly, that further generations would be burdened with huge debts which wouldn't go away. What an absolutely bleak scenario!

0 0

Add comment
Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.