SL, France ink agreement on debt restructuring

William Roos (third from left) and Mahinda Siriwardana exchanging a handshake following the inking of the agreement 

Sri Lanka and France inked a bilateral agreement on Monday as part of the island nation’s external debt restructuring process, marking what the Finance Ministry called a significant milestone in efforts to restore debt sustainability and revive the country’s economy.

The agreement was signed during an official ceremony in Colombo.  Ministry of Finance, Planning, and Economic Development Secretary Mahinda Siriwardana signed on behalf of the Government of Sri Lanka, while Assistant Secretary Multilateral Affairs, Trade and Development Policies Department William Roos, signed on behalf of the Government of the French Republic.

France played a pivotal role in spearheading Sri Lanka’s External Debt Restructuring Process, serving as a co-chair of the Official Creditor Committee alongside Japan and India. 

The Finance Ministry said France’s leadership, commitment, and constructive engagement have been instrumental in helping Sri Lanka navigate the challenges of economic recovery, enabling meaningful progress toward restoring debt sustainability.

The ministry said the conclusion of the exchange of notes and the signing of the agreement would pave the way for further developing the deep and longstanding bilateral relationship between the two countries.