Western Provincial Council tensed following heated exchange

Sri Lanka signs debt deal with creditor nations in Paris

Sri Lanka?signed a deal with creditor nations?to restructure about US$5.8 billion in bilateral debt, the office of the country’s president said on Wednesday (Jun 26), in a move that would help stabilise its?crisis-hit economy. Officials from the cash-strapped South Asian nation signed the agreement in Paris with the Official Creditor Committee (OCC), which is co-chaired by Japan, India, and France. “This agreement grants significant debt relief, allowing Sri Lanka to allocate funds to essentia

26 Jun, 2024

Sri Lanka and China sign debt treatment agreements in Beijing

Sri Lanka signed debt treatment agreements in Beijing with China’s Exim Bank, Wednesday, to restructure USD 4.2 billion of debt. The Framework Agreement related to this was signed between Sri Lanka and China in Colombo, Sri Lanka, the President’s Media Division said. The restructuring provides significant debt relief, allowing Sri Lanka to allocate more funds to essential public services and resume concessional financing for critical infrastructure development. Earlier, Chinese Foreign Minist

26 Jun, 2024

Ranil seeks public support to take the country forward

President Ranil Wickremesinghe, in an address to the nation, sought public support to take the country forward after successfully negotiating the restructuring of?bilateral debt. Wickremesinghe recalled the steps he has taken to help Sri Lanka recover from the economic crisis. The President urged the public to choose wisely to ensure a prosperous future for Sri Lanka. Sri Lanka?signed a deal with creditor nations?to restructure about US$5.8 billion in bilateral debt, the office of the country

26 Jun, 2024