Echelon Decodes

What awaits a sovereign that needs to restructure its external debt

A conversation with a sovereign debt restructuring specialist

Following multiple-notch rating downgrades, to CCC+, Sri Lanka is now locked out of global debt markets. As a result, Sri Lanka’s external debt sustainability is challenged. Over the next five years over $7 billion in international sovereign bonds will mature and will have to be repaid. 
 
Economists have suggested Sri Lanka should restructure its external debt and seek IMF help. 
 
This webinar will explore the options available to a sovereign that chooses to restructures its external debt, how it can approach such a negotiation with its creditors, what to watch out for, and how to make the best of a bad situation.

  • Lee Buchheit is a veteran of sovereign debt restructuring and is considered by many to be a world expert in the field. He has worked on debt restructuring among many of the emerging markets countries, including Argentina, Greece and Venezuela.
     
    Lee Buchheit retired in 2019 after a 43 year career with Cleary Gottlieb Steen & Hamilton LLP. Mr. Buchheit’s practice focused on international and corporate transactions, including Eurocurrency financial transactions, sovereign debt management, privatization and project finance. 
     
    Mr. Buchheit is the author of two books in the field of international law and more than 40 articles on professional matters.

  • Lee Buchheit

    Sovereign debt restructuring specialist

  • Shamindra Kulamannage

    Echelon

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