Sri Lanka considering restructure of local and sovereign debt - president

FILE PHOTO: Sri Lanka's President Ranil Wickremesinghe and Prime Minister Dinesh Gunawardena look on after attending the inauguration of a new session of parliament and the first policy statement by Wickremesinghe, amid the country's economic crisis, in Colombo, Sri Lanka August 3, 2022. REUTERS/ Dinuka Liyanawatte

COLOMBO (Reuters) - Sri Lanka is considering a restructure of local and sovereign debt, President Ranil Wickremesinghe said on Friday, as the island nation battles its worst financial crisis in its independent history.

The country is due to restart bailout talks with the International Monetary Fund (IMF) in August in the hope of securing $3 billion in funding.