Its government may be surprised to find that a group of its creditors have more than money on their mind.
Sri Lanka is in a precarious position. Unable to both service its debt and buy enough food and fuel for its population, it has stopped all payments on its foreign debt and faces its first default since independence from Britain in 1948. While the World Bank has for now stepped in to help pay for food and medicines, a debt restructure is key to winning a bailout from the International Monetary Fund.
Convincing countries and creditors to agree to such demands is not easy. Governments are nervous about making policy based on fund managers' requests and bondholders might care more about making money than pushing for green commitments.
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