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Bondholders express concern over debt restructuring amid political uncertainty

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The representatives of bondholders who hold more around 50 percent of Sri Lanka’s outstanding international sovereign bonds (ISB) , during closed door interactions with the representatives of Sri Lankan political parties, have expressed fear whether any debt restructuring agreement will be honored in case of a regime change at the elections pending this year, Daily Mirror learns.

The bond holders held talks with various political leaders including from the opposition parties such as the Samagi Jana Balawegaya (SJB), the National People’s Power (NPP) and the United Republican Front (URF) led by MP Patali Champika Ranawaka during the New Year holiday period.

During talks with the NPP, the party has assured that the programme with the IMF (International Monetary Fund) will not be derailed.

Currently, the Sri Lankan government has concluded the initial restricted discussions with nine members of the Steering Committee of the Ad Hoc Group of Bondholders over a span of three weeks. Sri Lanka was joined by its legal and financial advisors Clifford Chance and Lazard, respectively, while the restricted members of the Steering Committee were joined by the Group’s legal and financial advisors, White & Case and Rothschild & Co., respectively.

The Steering Committee as a whole comprises ten of the largest members of the Group, with the Group controlling approximately 50% of the aggregate outstanding amount of ISBs.

Earlier, the Finance Ministry said in a statement that the parties failed to come to an agreement on restructuring terms, despite the constructive discussions.

During this period, Sri Lanka, the Steering Committee and its advisors met during a two-day working session in London on 27 and 28 March to discuss the Group’s latest debt treatment proposal. Prior to the meetings, March 15 Sri Lanka had also sent its own debt treatment proposal to the Group’s advisors which was rejected by the Steering Committee.

Also, Sri Lanka rejected last week international bondholders’ proposal to restructure more than $12 billion in debt, putting at risk critical International Monetary Fund support and delaying its efforts to resolve a two-year-long debt crisis.

(dailymirror.lk)

(Except for the headline, this story, originally published by dailymirror.lk has not been edited by SLM staff)

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NTC approves 2.5% reduction in bus fares (Update)

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The National Transport Commission (NTC) has approved a 2.5% reduction in bus fares effective from July 01 in line with the annual bus fare revision.

During a discussion between Transport Ministry officials and representatives of private bus associations, the government’s proposal to reduce bus fares by 2% was met by objections raised by bus operators.


(Previous News on 25th June 2025 at 4:51pm)

Bus associations oppose proposal of 2% fare reduction

The government’s proposal to reduce bus fares by a 2% effective from July 01 has led to the strong disapproval of bus associations, reports say.

It was also proposed not to revise the fares of the first two stages.

The announcement was made during a meeting between officials of the Transport Ministry and representatives of private bus associations to discuss the annual bus fare revision, scheduled for July 01.

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2025 A/L exam dates announced

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The Department of Examinations has confirmed that the 2025 G.C.E. Advanced Level (A/L) examination will be held from Nov. 10 – Dec. 05, 2025, 

Accordingly, applications for the 2025 G.C.E. A/L exam will be accepted online from June 26 to July 21, 2025.

It is further stated that students of government schools and government-approved private schools must submit their applications through their respective school principals, while private candidates are required to submit their applications themselves.

A statement by the Department of Examinations noted that private applicants must use their National Identity Card (NIC) number when applying for the examination.

Applicants are advised to visit the official website of the Department of Examinations of Sri Lanka, www.doenets.lk or www.onlineexams.gov.lk/eic, to carefully read the relevant instructions and submit their applications accordingly. After submitting the application, candidates are urged to keep a printed copy with them in case of an emergency.

The username and password required by school applicants to submit their applications have already been provided to the respective school principals.

Applications will not be accepted after 12.00 midnight on July 21, 2025. It is also emphasized that the closing date will not be extended under any circumstances, the statement added.

For further inquiries, applicants are advised to contact the Department of Examinations via the following telephone numbers or email : Tel: 011-2784208, 011-2784537, 011-2785922 / Hotline: 1911 / Email: [email protected]

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UN Rights chief meets families of missing persons

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A group of activists and families of missing persons handed over letters and memorandums to the visiting United Nations High Commissioner for Human Rights Volker Turk in Trincomalee today (June 25).

UN Human Rights Spokesperson – Jeremy Laurence, who is accompanying the High Commissioner, said while in Trincomalee that Mr. Volker Turk expressed sorrow and solidarity with the families of the disappeared.

Meanwhile, a peaceful demonstration was also held in Trincomalee during this visit, where a group of activists and victims of disappearances was seen holding placards and banners.

The UN High Commissioner for Human Rights will visit Kandy before concluding his official visit to Sri Lanka tomorrow (June 26) after a special press briefing in Colombo.

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