Sri Lanka's bonds tumble as election approaches
SL's Bonds tumble as election nears, restructuring doubts return
Aruna Shantha
10-Sep-2024 18:26:03
Sri Lanka�s dollar bonds fell sharply yesterday as uncertainty about the country�s upcoming election and its debt restructuring strategy hit sentiment.
The declines left many of the crisis-hit nation's bonds at their lowest level since January. They were bid at between 49.57-50 cents US85227SAQ93=TE , US85227SAR76=TE , USY8137FAP37=TE on the dollar at 940 GMT, down from around 60 cents a few months ago.
Sri Lanka will hold presidential elections on Sept. 21. The crucial vote will determine the future of reforms in the South Asian nation weathering its worst financial crisis in decades.
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