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Sri Lanka to opt for domestic debt restructuring post-IMF bailout: Government

Cash-strapped Sri Lanka is exploring the options for domestic debt restructuring in the post-IMF bailout scenario to further stabilise its shaken economy, an official statement said on Friday.

Sri Lanka received USD 330 million this month as the first tranche of the International Monetary Fund (IMF) bailout programme, which will pave the way for the debt-ridden country to achieve better “fiscal discipline” and “improved governance.

In a statement issued by the Sri Lankan government after making an investor presentation on Thursday, the Governor of the Central Bank and the Secretary to the Treasury said “the Authorities are also exploring options for a domestic debt optimisation (DDO) operation aimed at liquidity relief while preserving financial stability to avoid further eroding of Sri Lanka’s repayment capacity”.

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