Sri Lanka Expects Debt Restructuring Completion for IMF Tranche, says FM

COLOMBO (News 1st); Sri Lanka expects the conclusion of the debt restructuring process in time for the next (third) tranche of the International Monetary Fund Program, said the country's Foreign Affairs Minister Ali Sabry, PC in Colombo.

Sabry, attending a joint media briefing with the Minister of Foreign Affairs of Japan Yoko Kamikawa said that Sri Lanka deeply appreciates the solidarity and assistance given by Japan, when the island nation was going through an unprecedented economic crisis.

"We remain very grateful to Japan for the important supporting role it played in the external debt  restructure in process as the Co-chair of the official creditor committee, OCC, as well as for its grant assistance," said Ali Sabry.

He noted that Sri Lanka has worked diligently to stabilize the economy, enhance debt sustainability, and implement growth -oriented structural reform. 

"As of today, the country has not only recovered from economic collapse, but has experienced a rapid revival, showcasing the resilience and the determination of the Sri Lankan people," he pointed out.

Note: News 1st's Nilakna Gunasekara contributed to this report.