Ad Hoc Group of Bondholders statement on progress in Sri Lanka's debt restructuring
NEW YORK, Dec. 1, 2023 /PRNewswire/ -- The Ad Hoc Group of Bondholders (the "Group") of the Republic of Sri Lanka ("Sri Lanka") notes the statements released by the Official Creditor Committee ("OCC") and the Sri Lankan Ministry of Finance on November 29, 2023 on the agreement-in-principle ("AiP") reached between Sri Lanka and the OCC.
- NEW YORK, Dec. 1, 2023 /PRNewswire/ -- The Ad Hoc Group of Bondholders (the "Group") of the Republic of Sri Lanka ("Sri Lanka") notes the statements released by the Official Creditor Committee ("OCC") and the Sri Lankan Ministry of Finance on November 29, 2023 on the agreement-in-principle ("AiP") reached between Sri Lanka and the OCC.
- The Group welcomes progress on the restructuring of official claims, as uncertainty around the treatment of these claims has hindered Sri Lanka's recovery.
- Unfortunately, no substantive engagement has taken place between Sri Lanka and its private creditors to date.
- The Group remains committed to reaching an agreement with the Sri Lankan authorities as quickly as possible to find a sustainable solution to Sri Lanka's debt challenges as they relate to the international bond debt.