US files lawsuit against Sri Lanka over $ 1 billion debt – Bloomberg

The bondholder has filed a lawsuit in the United States alleging that Sri Lanka failed to pay $ 1 billion in sovereign bonds.

According to the Bloomberg website, the lawsuit was filed in Manhattan District Court by Hamilton Reserve Bank Ltd, which owns more than $ 250 million worth of bonds.

The case has been filed seeking an order to pay the dues and interest in full.

Meanwhile, minister Manusha Nanayakkara says, 

“Everyone says that workers are living hard these days. This is one hundred per cent true story. Food prices have gone up. The oil is hard to beat. Therefore, we have held discussions to increase the minimum wage of private-sector employees. Accordingly, we will impose a fixed minimum wage in the future and increase the minimum wage of private-sector employees to a tangible level. There are also demands from estate workers to increase their wages. Negotiations should be held in this regard and a wage increase felt by the estate workers should also be given. The Ministry stands for that. We are committed to protecting them. “