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A battle is shaping up between global bondholders and Sri Lankan authorities as the nation seeks to restructure its debt to gain access to more aid from the International Monetary Fund.
Overseas investors such as BlackRock Inc. and Pacific Investment Management Co. are demanding that domestic debt holders share billions of dollars of losses as the government prepares to outline its plans on Thursday. But authorities haven’t committed either way, with officials mindful that piling losses on local banks may endanger financial stability.
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