Standard Chartered optimistic on Lankan debt restructuring outcome

Standard Chartered bank team remain optimistic on the outcome of the debt restructuring in Sri Lanka and look forward to favourable economic outputs soon, said Bingumal Thewarathanthri, Chief Executive Officer, Standard Chartered Sri Lanka.

“Standard Chartered is fully committed to supporting Sri Lanka during these challenging times. We have taken various steps to face economic challenges, including supporting our clients’ businesses and extending financing solutions,” he said at their annual Global Research Briefing (GRB), themed ‘A year of two halves’ held on March 3 at the Galle Face Hotel Colombo. Standard Chartered Bank’s Global Research team recently visited Sri Lanka for this event which was attended by over 150 Corporate, Commercial and Institutional Banking (CCIB) clients of Standard Chartered Bank.

“We will continue to work closely with the government and other stakeholders to navigate through the ongoing debt restructuring process and support the country’s path towards economic stability and growth.

During the briefing, the Global Research team addressed various questions and shared their views on the global and Sri Lanka economic outlook for the year ahead. The team discussed their forecasts for the year as the global economy continues to navigate multiple headwinds in the first half and anticipated shifts in the second half with China’s reopening.

The team also discussed the ongoing debt restructuring and critical reforms that Sri Lanka is undertaking, which will shape the economy’s future in 2023 and beyond. They explored the path for debt sustainability in Sri Lanka and how the LKR will behave during and after the restructuring process.

Regarding Standard Chartered Bank’s support of the government’s efforts to face economic challenges, the team expressed hope for a positive outcome through debt restructuring and favourable economic outputs.


Author: shehan

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