Sri Lanka has sent a new restructuring proposal to its USD bondholders, as part of efforts to overhaul its defaulted debt. That comes as a counterproposal to bondholders’ previous suggestion of a 20% haircut and the issuance of macro-linked bonds. Following this development, the nation’s USD bonds saw a notable increase in value, with notes maturing in 2026 rising to 53.4 cents on the dollar.