A final restructuring agreement for USD 5.8 billion in debt was reached yesterday, April 26, between Sri Lanka and its bilateral lenders, the official creditor committee in Paris
It is anticipated that this agreement will significantly reduce debt and leave room to obtain concessional financing for its needs in development.
“Agreement reached to restructure USD 5.8 billion in debt”
State Minister of Finance Shehan Semasinghe said, “We are pleased to announce that the final agreement on debt restructuring has been reached between Sri Lanka and the Official Creditor Committee on the sidelines of the Paris Forum 2024 in Paris, France.”
According to the State Minister, bilateral debt treatment agreements between Sri Lanka and the Export-Import Bank of China are currently being signed by the government.
