Sri Lanka, May 8 -- Minister of Foreign Affairs, Ali Sabry, announced the government's expectation to finalize the foreign debt restructuring process by June. If successful, this endeavour could lead to a reduction of approximately US $17 billion of Sri Lanka's debt burden.

He also said that the primary focus is on navigating the challenge of debt restructuring. The initial phase of domestic debt restructuring has been completed, with attention now turned to foreign debt restructuring. Negotiations with private investors linked to sovereign bonds aim to finalize this phase by June, with a targeted completion before June 2024. Successful restructuring could result in a $17 billion advantage for Sri Lanka, potentially reducing debt burden ...