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Sri Lanka's Debt Restructuring - A win for private bondholders*
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Jul
23rd 2024, C.P. Chandrasekhar
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The
Sri Lankan government announced that it has reached
an agreement with its foreign private creditors to restructure
the $12.5 billion of its external debt that they hold.
The agreement incorporates a novel instrument: a macro-linked
bond for which the payout is linked to the GDP performance
of the debtor country.
*
This
article was originally published in the Economic and
Political Weekly on July 19, 2024.
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