Financial Times says Sri Lanka will need to show it is still talking to bondholders in good faith in order to secure the next $ 330 million tranche of the IMF programme, which is up for review in March. The island also faces the risk that it will be meeting some creditors in the courts rather than around a negotiating table.
Hamilton Reserve Bank, a St. Kitts and Nevis-based creditor that is not part of the bondholder committee, has been seeking immediate repayment on about $ 250 million of Sri Lanka debt through the US courts, Financial Times said. In November (2023), a judge stayed the case until 29 February in order to allow negotiations with other bondholders to proceed.
- the morning
- the morning lk
Hamilton Reserve Bank, a St. Kitts and Nevis-based creditor that is not part of the bondholder committee, has been seeking immediate repayment on about $ 250 million of Sri Lanka debt through the US courts, Financial Times said. In November (2023), a judge stayed the case until 29 February in order to allow negotiations with other bondholders to proceed.
- the morning
Govt. eyes pvt. sector minimum wage hike
The need for an increase in the minimum wage of private sector workers is exemplified by the fact that while the minimum monthly wage in Sri Lanka stands at Rs. 16,000, the official national poverty line as of November 2023 stands at Rs. 16,302. Therefore, any private sector employee in Sri Lanka earning a minimum wage will essentially fall below the poverty line.- the morning lk
