Sri Lanka

Sri Lanka: Recovery values updated as IMF approval nears

  • The IMF Board is scheduled to review Sri Lanka’s EFF on 20 March, after receiving the necessary financing assurances

  • Board approval is not necessarily end of the road, as Zambia has illustrated, but is a major step given recent hangups

  • Retain Buy with updated recovery value in low- to mid-40s, with risks on both sides. DSA will soon provide more clarity
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