US and India welcome SL’s debt restructuring process

The US and India have welcomed Sri Lanka’s latest progress in the debt restructuring process.

Yesterday, Sri Lanka reached a final restructuring agreement for USD 5.8 billion of debt with its bilateral lenders’ Official Creditor Committee in Paris.

Sri Lanka also signed debt treatment agreements in Beijing with China Exim Bank to restructure USD 4.2 billion of debt.

Taking to X, US ambassador to Sri Lanka – Julie Chung has said, “We welcome the news of a final agreement on debt restructuring between Sri Lanka and creditor nations, reached today on the sidelines of the Paris Forum 2024. This is a positive step forward in Sri Lanka’s economic recovery and resilience, helping build more confidence in Sri Lanka’s fiscal environment. The U.S encourages Sri Lanka to continue the reform process, adopting transparent and sustainable changes that foster long-term prosperity and growth.”

In addition, On a X message, Randhir Jaiswal, official spokesman of the External Affairs Ministry of India, has also congratulated Sri Lanka on the progress and reiterated India’s commitment to Sri Lanka’s growth and prosperity.

“ is steadfast in its commitment to ’s growth and prosperity, demonstrated by the unprecedented assistance of USD 4 billion as well as the role played by as the co-chair of the OCC,” he has said.

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