Financial advisory group Lazard has started talks with India, China and Japan on restructuring Sri Lanka’s debt, a government spokesman told today.
Speaking during the Cabinet briefing today (13), acting Cabinet spokesman – Ramesh Pathirana said that the company is in the process of speaking to India, China, Japan, mainly to ensure some sort of consensus is reached.
“We will keep our fingers crossed that we will be able to come to an agreement,” he said.
Lazard was hired by Sri Lanka in May, along with international lawyers Clifford Chance, to guide the government through the process of restructuring its debt, for which estimates range from $85 billion to well over $100 billion.
for the Sri Lanka government said on Tuesday, as the crisis-hit island nation seeks an International Monetary Fund (IMF) bailout.