News

Cabinet approval for restructuring of ISBs

Published

6 months ago

November 26, 2024

editor

The Cabinet of Ministers has approved the proposal for the restructuring of international sovereign bonds by way of swapping existing bonds for new bonds in accordance with the parameters indicated in the debt sustainability analysis conducted by the International Monetary Fund (IMF).

In June 2024, the Government of Sri Lanka reached a final agreement on a debt restructuring with members of the Official Creditor Committee (OCC) of major bilateral lenders.

In September 2024, an agreement in principle was reached with international bondholders on a sovereign debt restructuring of approximately USD 14.2 billion in principle, following consensus discussions with the AdHoc Bond Holders, a group of international investors representing sovereign bondholders, and the Local Consortium of Sri Lanka.

Accordingly, the Cabinet approval has been granted for the proposal presented by President Anura Kumara Dissanayake for the restructuring of international sovereign bonds by way of swapping existing bonds for new bonds following an analysis conducted by the Financial and Legal Advisors of the Government of Sri Lanka on the impact on the Sri Lankan economy, taking into account the composition of Sri Lanka’s international sovereign debt, investors and settlements, and in accordance with the parameters indicated in the debt sustainability analysis conducted by the IMF under the provisions of the Extended Fund Facility (EFF) program for Sri Lanka.

News

COVID subvariants spreading in Asia detected in Sri Lanka

Published

9 hours ago

May 31, 2025

editor

The Medical Research Institute of Sri Lanka has confirmed that the COVID-19 variant currently spreading in the Asian region has also been identified in the country.

Dr. Jude Jayamaha, a specialist in viral diseases at the Medical Research Institute, stated that patients infected with the Omicron subvariants LF.7 and XFG are being reported locally.

Dr. Jayamaha explained that this finding was confirmed through research conducted on biological samples collected from several hospitals across the island.

However, he emphasized that there is no need for undue fear regarding these COVID-19 variants.

Health authorities have also stressed the importance of vulnerable groups—such as pregnant mothers, the elderly, and those with chronic illnesses—following health guidelines, including wearing face masks and avoiding crowded places.

Dr. Jayamaha reiterated that new COVID-19 variants emerge periodically, and health authorities are continuously monitoring the situation, so the public should remain calm.

(newswire.lk)

(This story, originally published by newswire.lk has not been edited by SLM staff)

News

Anudi misses out from Miss World Quarter-Finals

Published

10 hours ago

May 31, 2025

editor

The Miss World organization has announced its quarter-finalists, selecting 40 contestants from across Asia, Europe, Africa, and the Americas.

Sri Lanka’s Anudi Gunasekara, was not selected in the top 40, despite being recognized for her impressive performances in the Multimedia and Head-to-Head challenges.

The top 40 consisted of 10 contestants each from Asia & Oceania, Europe, Africa and the Americas.