Sri Lanka to Start Talks to Restructure Bonds Next Week.

Sri Lanka is set to begin negotiations with global investors to restructure $12 billion in defaulted global bonds next week. A steering committee of bondholders will discuss a proposal from the government to rework the overseas debt, which has been in default since 2022. The goal is to reach a deal quickly, especially as Sri Lanka has upcoming presidential elections. The nation's dollar bonds have risen in response to the news. Sri Lanka's central bank governor and treasury secretary will travel to Europe for discussions with bondholders, and the government also plans to engage with the International Monetary Fund and World Bank in April. The restructuring is crucial for Sri Lanka to continue receiving financing from an IMF bailout. [Extracted from the article]