Sri Lanka Inks Debt Restructuring Deal with Japan, Others

   New Delhi, June 27 (Jiji Press)--The Sri Lankan government has announced that it reached a final debt restructuring deal with a group of creditor countries including Japan and India, covering 5.8 billion dollars.
   The agreement concluded Wednesday with the 17-country Official Creditor Committee included significant debt relief, enabling Sri Lanka to allocate funds to essential public services and economic development, the country said.
   The deal is a step forward for Japan's plan to resume suspended yen-loan projects. A senior Sri Lankan government official said that a final agreement has also been reached with China, which is not an official member of the creditor group, set up last year at the initiative of Japan.
   Sri Lanka entered a de facto state of default in 2022 and reached basic agreements on debt restructuring with the creditor group and the Export-Import Bank of China the following year.
   The South Asian country is receiving financial assistance from the International Monetary Fund.

(2024/06/27-09:06)

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