Complex web of creditors, politics threatens Sri Lanka restructuring ...Qatar

Social unrest, political uncertainty and a complex web of creditors could scupper Sri Lanka’s push for a swift overhaul of its $12bn overseas debt even as the nation is fast running out of road. A mix of Japanese, Chinese and Indian loans, a pile of bonds held by overseas investors and talks on an International Monetary Fund (IMF) bailout have added complexity to the nation’s worst financial crisis since independence in 1948. S&P Global Ratings on Monday cut Sri Lanka’s foreign-currency debt rating to “selective default” after it missed interest payments. In a flurry of activity over the past week, the World Bank agreed to provide $600mn to help pay for essential imports, the IMF said the g

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Complex web of creditors, politics threatens Sri Lanka restructuring ...Qatar

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