Sri Lanka makes debt restructuring deal with Japan, other creditors

World Economy

Debt-ridden Sri Lanka and its creditor nations, including Japan, reached a basic agreement on Wednesday over Colombo’s debt restructuring, a senior Japanese Finance Ministry official said.

The creditor nations and Sri Lanka will work out details and formalize the agreement in a memorandum of understanding, Masato Kanda, vice finance minister for international affairs, told reporters.

Some 20 countries -- led by Japan, France and India -- established a framework earlier this year under which discussions on how to proceed with Sri Lanka’s debt restructuring went on to take place. China, Sri Lank...

Kyodo News

Kyodo News