The ambassadors of China, Japan and the United States have congratulated Sri Lanka for having reached final agreement with main official bilateral creditors, making the end of debt restructuring negotiations.
Chinese ambassador Qi Zhenhong, who signed the government concessional loan agreement for Exim Bank, said on X that it is a great contribution to Sri Lanka’s debt restructuring and congratulated the Sri Lankan people.
In a tweet, US ambassador Julie J. Chung 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," Chung added. Japanese ambassador Katsuki Kotaro described this as a good opportunity for Sri Lanka to progress economically.
The agreements reached are valued at a combined USD 10 billion.
Each creditor, including the OCC and China Exim Bank, agreed to extend maturity periods, initiate capital grace periods, and reduce interest rates significantly.
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