Sri Lanka strikes deal with creditors on debt restructuring to clear way for IMF funds
On Wednesday, Sri Lanka announced that it has, in principle, finalized an agreement with a consortium of creditors, including India and Japan, for the restructuring of its debt. This development is a pivotal step forward in accessing the second tranche of a $2.9 billion bailout package from the International Monetary Fund. The agreement, facilitated by the Official Credit Committee, encompasses around $5.9 billion of the country's outstanding public debt.
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