logo

This website uses cookies to ensure you get the best experience on our website.

Read through the Privacy Policy to understand better

 Go Back

Sri Lanka seeks $17 billion debt reduction by restructuring

By KRISHAN FRANCIS - Apr 26, 2023, 05:27 AM ET
Last Updated - Jun 22, 2023, 03:48 AM EDT
Sri Lanka Economic Crisis
ASSOCIATED PRESS

Sri Lanka’s president has asked its parliament to approve a four-year International Monetary Fund program to restructure the country's $17 billion in foreign debt

COLOMBO, Sri Lanka AP" target="_self">(AP) — Sri Lanka’s president urged lawmakers Wednesday to approve a four-year International Monetary Fund program to restructure the country’s $17 billion in foreign debt.  

Parliament began a three-day debate Wednesday on President Ranil Wickremesinghe’s proposal to accept the IMF program. It will be followed by a vote.  

Sponsored

If approved, the plan would dictate how Sri Lanka’s crisis-stricken economy will be managed in the coming few years.  

A majority of lawmakers are expected to accept the IMF’s four-year bailout program. Under the plan, the international development lender will provide nearly $3 billion in stages.  

By continuing to use this site, you agree to our terms and conditions
Sponsored
Sponsored
Sponsored
Our Offices
  • 10kInfo, Inc.
    13555 SE 36th St
    Bellevue, WA 98006
    Phone: +1 (425) 414-0184
  • 10kInfo Data Solutions, Pvt Ltd.
    Claywork Create
    11 km, Arakere Bannerghatta Rd, Omkar Nagar, Arekere,
    Bengaluru, Karnataka 560076
    Phone: +91 80 4902 2100
4.2 20250324