COLOMBO: Sri Lanka signed a deal with creditor nations to restructure about US$5.8 billion in bilateral debt, the office of the country's president said on Wednesday (Jun 26), in a move that would help stabili
Construction sites of commercial buildings are seen as the sun sets in Colombo, Sri Lanka on Apr 24, 2024. to restructure about US$5.8 billion in bilateral debt, the office of the country's president said on Wednesday , in a move that would help stabilise its
Officials from the cash-strapped South Asian nation signed the agreement in Paris with the Official Creditor Committee , which is co-chaired by Japan, India, and France. "This agreement grants significant debt relief, allowing Sri Lanka to allocate funds to essential public services & secure concessional financing for its development needs," the president's media office said in a statement.
Sri Lanka is also in the process of signing separate bilateral agreements with China EXIM Bank to restructure US$4.2 billion of debt, State Minister of Finance Shehan Semasinghe said on social media platform X. We know it's a hassle to switch browsers but we want your experience with CNA to be fast, secure and the best it can possibly be.
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