By Imsha IqbalThe Government of Sri Lanka is expected to settle a $ 1 billion-worth International Sovereign Bond (ISB) payment today (26) that is maturing tomorrow (27), The Morning Business learns. Sri Lanka is obliged to settle about $ 29 billion of foreign currency debt which is due by 2026. Last week (19), Singapore-based Moody’s Investors Service placed Sri Lanka as Caa1 rating foreign currency long-term issuer as well as the senior unsecured debt ratings under review for downgrade. These resources should enable Sri Lanka to meet its remaining debt maturities through the rest of this year, including a $ 1 billion international sovereign bond maturing in July. However, the authorities have yet to specify their plans for meeting the country’s foreign currency debt-servicing needs for 2022 and the medium term.

Source: The Nation July 25, 2021 18:56 UTC