With the Official Creditor Committee of its bilateral lenders in Paris, France, Sri Lanka has finalized a restructuring arrangement for USD 5.8 billion of debt.
On “X” (formerly Twitter), State Minister of Finance Shehan Semasinghe declared that a definitive debt restructuring agreement had been struck between Sri Lanka and the Official Creditor Committee.
Sri Lanka and the Export-Import (EXIM) Bank of China are currently in the process of establishing bilateral debt treatment agreements, according to the State Minister Semasinghe.
Meanwhile, the President’s Media Division (PMD) claims that there is a substantial debt reduction provided by this agreement with bilateral lenders.
According to the PMD, this agreement also enables Sri Lanka to set aside funds for basic public services and obtain concessional loans for its needs in terms of development.
The Finance Ministry has released full details of the removal of the suspension on Importation of Motor Vehicles.
In the wake of the ‘outing’ of parliament Speaker Ashoka Ranwala with accusations that his PhD was fake, there has been a flurry of articles on fake degrees.
Leave Comments