South Asia News: Sri Lanka's debt restructuring agreement with creditor nations prepares the way for the IMF to review its bailout next month. The agreement follows Sr
South Asia News: A group of creditor nations, including Japan, France, and India, are likely to reach an agreement on debt relief and an extension of repayment deadlin
A group of Sri Lanka's creditor nations are likely to reach an agreement on debt relief and an extension of repayment deadlines for the South Asian nation, Japan's Jiji News reported on Wednesday, without naming a source or giving any details. Japan co-chairs this group, together with France and India. China is Sri Lanka's largest bilateral creditor and has steered clear of joining this group as a formal member.
COLOMBO (Reuters) -Sri Lanka has been informed that a debt-restructuring agreement with creditor nations has been reached but is yet to receive a letter of confirmation from the official creditor committee, a government source told Reuters on Wednesday. Sri Lanka, mired in its worst financial crisis in decades, has been trying to reach restructuring deals with creditors since last year, having being forced to default on its foreign debt in May 2022 after its foreign exchange reserves dwindled to record lows. "Sri Lanka has been informed of an agreement," the source, who did not want to be identified, said.