Financial and legal advisors for debt restructuring process selected

 

The cabinet that met on Monday has decided to retain the international financial advisory services and legal services from two companies of consultants to help Sri Lanka to obtain a long term loan package from the IMF and for the restructuring of debts at a cost of US$ 5.6 million for services provided for three months.

Cabinet spokesman, Transport, Highways and Mass media Minister Bandula Gunawardana told the first cabinet news briefing of the all-party government yesterday that there was a shortage of legal and financial consultants in Sri Lanka to deal with the subjects at global level. Hence, the two consultants to advice the Sri Lanka government to restructure the external debt of Sri Lanka.

Accordingly, the consultant services will be awarded for the procurement of International Financial Advisory Service to M/s Lazard Institute and M/s Clifford Chance LLP Institute to award the procurement of International Legal Advisory Services.

“The government had received 28 proposals for International Financial Advisory Service and 23 proposals for International Legal Advisory Service following the international tender called by the cabinet appointed steering committee.

President Gotabaya Rajapaksa had submitted the relevant cabinet memo on this subject.

Tamilarul.net   #Tamil   #News   #Tamil News   #Tamil Daily News   #Website   #Tamil News Paper   #Tamil Nadu Newspaper  #Online   #Breaking   News Headlines    #Latest Tamil News   #India News    #World News   #Tamil Film   #Jaffna   #Kilinochchi  #Mannar  #Mullathivu  #Batticola  #Kandy  #Srilanka  #Colombo