Sri Lanka to finalise debt restructuring by 2022 end – President

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A forum of Foreign Ambassadors on debt restructuring and the proposed International Monetary Fund (IMF) programme took place yesterday (22) evening under the patronage of President Ranil Wickremesinghe.

The programme was held with the participation of 16 Colombo-based missions and six missions virtually from New Delhi, the President’s Media Division (PMD) said.

According to the PMD, the Ambassadors pledged to provide full support for Sri Lanka to overcome the economic crisis.  They also told the President that Sri Lanka would be able to overcome the crisis soon.

President Wickremesinghe said Sri Lanka expects to finalise debt restructuring by the end of this year. The President, who thanked the Ambassadors, said he is committed to win the challenge of economic crisis for the future generations.

He also pledged that accountability and transparency would always be maintained in this regard.

This Ambassadors’ forum was held due to the mandatory requirement to reach a final agreement on debt restructuring for the IMF loan. The IMF agreed to lend USD 2.9 billion on a 48-month disbursement subject to agreement on debt restructuring. 

Secretary to the Finance Minister Mahinda Siriwardena and Central Bank Governor Dr. Nandalal Weerasinghe presented a background report on debt structuring and the current economic situation of the country during the meeting.

State Ministers Ranjith Siyambalapitiya, Tharaka Balasuriya and Shehan Semasinghe, President’s Chief of Staff Sagala Ratnayake and Secretary to the Foreign Affairs Ministry Aruni Wijewardane also participated in the meeting.