{"id":128497,"date":"2022-09-13T14:37:40","date_gmt":"2022-09-13T21:37:40","guid":{"rendered":"https:\/\/www.lankaweb.com\/news\/items\/?p=128497"},"modified":"2022-09-13T14:37:40","modified_gmt":"2022-09-13T21:37:40","slug":"debt-restructuring-talks-commence-with-india-china-and-japan","status":"publish","type":"post","link":"https:\/\/www.lankaweb.com\/news\/items\/2022\/09\/13\/debt-restructuring-talks-commence-with-india-china-and-japan\/","title":{"rendered":"Debt restructuring : Talks commence with India, China and Japan"},"content":{"rendered":"<h2><span style=\"color: #0000ff;\"><em>Courtesy Hiru News<\/em><\/span><\/h2>\n\n\n<p>The Financial advisory group Lazard hired by Sri Lanka has started talks with India, China and Japan on restructuring Sri Lanka&amp;rsquo;s debt, Minister Ramesh Pathirana the Cabinet spokesperson said today, as the country seeks an International Monetary Fund (IMF) bailout.<\/p>\n\n\n\n<p>Lazard was hired by Sri Lanka in May, along with international lawyers Clifford Chance, to guide the government through the process of restructuring its debt.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"\u0dbb\u0da7 \u0db1\u0d9c\u0dca\u0d9c\u0db1 \u0d85\u0dbd\u0dd4\u0dad\u0dca \u0db8 \u0d9a\u0ddc\u0db8\u0dd2\u0da7\u0dd2\u0dba - \u0dbb\u0dc4\u0dc3\u0dd2\u0d9c\u0dad \u0d9c\u0dd2\u0dc0\u0dd2\u0dc3\u0dd4\u0db8 \u0dc3\u0d9f\u0dc0\u0db1\u0dc0\u0dcf \u0daf? - Hiru News\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/ZXEa8mOwP3E?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>Earlier this month, the IMF said it had reached a preliminary agreement with Sri Lanka for a loan of about $2.9 billion. But for the deal to go through, the country will require debt relief from China, India and Japan, its three main international lenders.<\/p>\n\n\n\n<p>They are in the process of speaking to India, China, Japan, mainly to ensure we come to some sort of consensus,&amp;rdquo; acting cabinet spokesperson Ramesh Pathirana stated, referring to Lazard.<\/p>\n\n\n\n<p>We will keep our fingers crossed that we will be able to come to an agreement.<\/p>\n\n\n\n<p>The three countries hold about $13 billion of Sri Lanka&amp;rsquo;s debt, while China is Sri Lanka&amp;rsquo;s largest bilateral creditor.<\/p>\n\n\n\n<p>Sri Lanka is also expected to formally reach out to private creditors who hold about $12 billion in bonds later this week, a government source told Reuters.<\/p>\n\n\n\n<p>The government is planning to start talks with the ambassadors of China, U.S., Japan and India next week on debt restructuring,&amp;rdquo; the source said, declining to be named as he was not authorized to speak to media.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Courtesy Hiru News The Financial advisory group Lazard hired by Sri Lanka has started talks with India, China and Japan on restructuring Sri Lanka&amp;rsquo;s debt, Minister Ramesh Pathirana the Cabinet spokesperson said today, as the country seeks an International Monetary Fund (IMF) bailout. Lazard was hired by Sri Lanka in May, along with international lawyers [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"","sticky":true,"template":"","format":"standard","meta":{"footnotes":""},"categories":[193],"tags":[],"class_list":["post-128497","post","type-post","status-publish","format-standard","hentry","category-imf-bailout-package"],"_links":{"self":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/128497","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/comments?post=128497"}],"version-history":[{"count":0,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/128497\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/media?parent=128497"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/categories?post=128497"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/tags?post=128497"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}