evidence: Sri Lanka has been in arrears to external private creditors since the April 2022 moratorium, including $1,633 million to International Sovereign Bond (ISB) holders, $338 million to China Development Bank (CDB), and $7 million to other foreign commercial creditors as of December 2022.25 The authorities, through their financial and legal advisors, are making good faith efforts to reach a collaborative agreement with these private creditors. In particular, they have engaged in early dialogue with them since June 2022, and shared relevant information through an investor presentation held in September 2022 (followed by a detailed document addressing investors’ questions) and the publication of detailed debt statistics in November 2022. The authorities’ advisors have also shared, under non-disclosure agreements with the advisors to ISB holder committees and CDB, key information presented to official bilateral creditors so that private creditors have an early opportunity to provide input on the design of restructuring strategies. The ad hoc group of ISB holders (holding about half of outstanding ISBs) issued an open letter to the IMF in February 2023 expressing its readiness to negotiate a debt relief with Sri Lanka that restores debt sustainability consistent with program parameters.