Reuters reveals Sri Lanka picks Lazard, Clifford Chance as advisers for landmark debt restructuring

Reuters exclusively revealed that Sri Lanka has hired heavyweight financial and legal advisers Lazard and Clifford Chance as it prepares for the difficult task of renegotiating its debts. The move is the latest development in Sri Lanka’s worst economic crisis since independence from Britain in 1948 and comes after the country was officially declared in default for the first time ever last week after it halted debt payments.