Clifford Chance reps here for debt restructuring talks

Several rounds of talks will be held throughout this week between the Government and the lending institutions  regarding action to be taken in the future regarding the currently suspended foreign loans and the debt restructuring process, a senior Central Bank official said.

Finance Ministry’s Deputy Treasury Secretary Priyantha Ratnayake stated that the Sri Lankan government, institutions that gave loans and representatives of the Clifford Chance Consulting Company appointed to advice the government regarding debt restructuring will participate in the discussions.

Clifford Chance Consulting Company representatives are already in Sri Lanka to participate in the discussions. A special discussion will be held on Friday (23) through Zoom technology to inform how to carry out debt restructuring based on their advice, with the participation of the representatives of the institutions that gave the loans. Rathnayake said that he hopes to present the basic facts on how to start repayments in the future with the countries that have given bilateral loans to Sri Lanka, including India, Japan and China, with the institutions that have given multilateral loans.