This inaugural edition of our latest publication series known as ‘Verité Research Debt Update. ’Sri Lanka is currently experiencing a financial crisis on an unprecedent scale. In May 2022, Sri Lanka defaulted on its debt servicing obligations for the first time in its history since independence. Against this backdrop, the Verité Research Debt Update provides a regular update for investors, policy makers and analysts, on the latest debt related financial news together with a brief analysis on the latest developments. This edition includes coverage and analysis on the financial assurance letters issued by China, India and a group of private bond holders.