Sri Lanka optimistic about deal with bondholders soon, says junior finance minister

Sri Lanka is optimistic about reaching an agreement soon with bondholders to restructure about $12 billion in debt, State Minister of Finance Sehan Semasinghe said on Monday.

Securing an agreement will be a major step for the island nation - which held talks with bondholders in London last week - to emerge from its worst financial crisis in decades after it defaulted on its foreign debt in May 2022.