Sri Lanka signed debt treatment Agreements in Beijing a short while ago with China Exim Bank to restructure USD 4.2 billion of debt, stated the President’s Media Division.
The Framework Agreement related to this was signed between Sri Lanka and China in Colombo, Sri Lanka.
According to the President’s Media Division (PMD), this restructuring provides significant debt relief, allowing Sri Lanka to allocate more funds to essential public services & resume concessional financing for critical infrastructure development .
Meanwhile, taking to ‘X’, State Minister of Finance Shehan Semasinghe announced that, “We are pleased to announce that Sri Lanka signed debt treatment agreement with Export Import Bank of China to restructure USD 4.2 billion of its debt. This move is part of an ongoing effort to manage the country’s financial challenges. The framework agreement for this debt treatment was signed between Sri Lanka and China in Colombo. The debt treatment agreement is a crucial step for Sri Lanka in stabilizing its economy and addressing its debt crisis,”.
