INSUBCONTINENT EXCLUSIVE:
according to people familiar with the matter.The government and members of the official creditor committee, which includes India, Hungary
and the Paris Club, are exchanging draft versions of the accord, or memorandum of understanding, the people said, asking not to be
identified as the talks are private.The documents are needed to finalize an agreement reached in November between the South Asian nation and
due in November 2025 are trading at 59.6 cents on the dollar, while dollar-denominated bonds due in 2030 are trading around 58.6 cents on
the dollar, continuing to recover after it failed to agree on a deal with bondholders back in April.Sri Lanka needs to reach deals with
bilateral lenders and bondholders to keep receiving disbursements under its $3 billion bailout from the International Monetary Fund
The IMF will evaluate the deals to ensure they provide enough relief to the island nation that it can meet its debt sustainability
parameters.The country owes $10.6 billion to bilateral creditors, according to government data, with China representing over 40% of that
It also needs to restructure $12 billion in debt with overseas private creditors.Because it has middle-income status, the country is not
part of the so-called Group of 20 Common Framework debt initiative, so talks with Chinese official creditors are conducted separately
The people declined to provide any updates on the negotiations between Sri Lanka and China, citing the fact that those talks are
Cabinet approval was sought for a debt restructuring matter, Cabinet spokesman Bandula Gunawardana said Tuesday, without elaborating, when
questioned about whether bilateral creditor debt agreements were discussed.The Paris Club did not immediately respond to a request for
