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Sir Lanka's world-beating bonds pin hopes on IMF billions: Report

The nation's dollar bonds have returned 20 per cent this year, the top performers

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Investors are betting that Sri Lanka will win final approval for about $2.9 billion bailout from the International Monetary Fund, a key step for the bankrupt nation to revive its economy from the worst crisis in decades.
 
The nation’s dollar bonds have returned 20 per cent this year, the top performers. The local currency surged 8 per cent and stocks climbed 5 per cent this month, beating their Asian peers on anticipation of billions of dollars in financing trickling in. The rupee fell 45 per cent last year, while the CSE All-share index declined more than 30 per cent

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First Published: Mar 20 2023 | 11:23 PM IST

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