Sri Lanka may be able to draw the outlines of a deal with holders of its defaulted dollar bonds as soon as next month, according to people familiar with the matter.

Foreign investors who hold the debt are prepared to work out the details of a restructuring, according to the people with direct knowledge of the talks who didn’t want to be named. This is on the basis that the International Monetary Fund review, that began Thursday, doesn’t result in any major changes to the macroeconomic assumptions under which bailout negotiations are taking place, they added.

Up Next

Bondholders Hopeful Sri Lanka Debt Deal Draft Ready Next Month