US congratulates Sri Lanka on IMF deal, urges fair treatment for all creditors

The United States has stressed the equal and equitable treatment of all creditors in Sri Lanka’s debt restructuring efforts while congratulating the island nation on securing a staff-level agreement with the International Monetary Fund (IMF).

The US Ambassador in Colombo, Julie Chung, had communicated this to Central Bank Governor Dr. Nandalal Weerasinghe when she met with him yesterday.
“I reinforced the need for fairness in Sri Lanka’s debt restructuring: equal and equitable treatment for all creditors is essential. Transparency from every party involved is crucial,” Chung tweeted yesterday.

“The United States remains committed to an economic landscape that values fairness, transparency, integrity, and inclusivity, ensuring stability and growth in Sri Lanka,” she added.

Sri Lanka has entered into a preliminary debt restructuring deal with the Exim Bank of China, of which the details are not yet known.

China remains the island nation’s largest bilateral creditor. But it has not officially joined the creditor committee formed by the Paris Club nations and India.

During President Ranil Wickremesinghe’s visit to Beijing last week, the Chinese Finance Minister assured full cooperation that would enable Sri Lanka to reach a debt restructuring deal with its external creditors.