Sri Lanka reaches new agreement to restructure debt
Central bank involved in reaching deal, which came two days before presidential election
Sri Lanka has reached a new deal to restructure its $14.2 billion of sovereign debt in bonds, the finance ministry announced on September 19.
The central bank has been closely involved in the negotiations with creditors that led to the agreement.
Under the deal, Sri Lanka will benefit from a debt reduction of $3.2 billion in a baseline scenario. The amount could increase if the economy performs poorly over the coming years, or it could decrease if the economy exceeds expectations.
Sri Lanka has
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