Sri Lanka extends DDR deadline for third time, till 11 September

Sri Lanka is expected to complete the DDR before the 1st review of IMF bail-out package of USD 2.9Bn. The IMF team is expected to carry out the country review from September 14th onward. Due to the mounting pressure on restructuring of country’s largest social security fund and legislative barriers, the full implementation of the DDR has been delayed.

But dollar-denominated domestic debt (SLDB) restructuring was concluded by the CBSL a week ago with private investors.