Sri Lanka's President Ranil Wickremesinghe on Wednesday announced that debt restructuring agreements were finalised with bilateral lenders, including India and China, in Paris, describing the development as a “significant milestone” that will bolster international trust in the cash-strapped island nation.
In a televised address to the nation, President Wickremesinghe, who also holds the portfolio as the finance minister, said that Prime Minister Dinesh Gunawardena will present these agreements to Parliament on July 2 for ratification.
"This morning in Paris, Sri Lanka reached a final agreement with our official bilateral creditors. Similarly, we signed another agreement with China's Exim Bank today in Beijing… Sri Lanka won….!!" said a jubilant Wickremesinghe, who has steered the effort to take the island out of the economic crisis since Sri Lanka declared its first-ever sovereign default in 2022.
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