The United Kingdom has agreed to provide debt relief to Sri Lanka by rescheduling outstanding obligations, following bilateral discussions concluded after the signing of the Memorandum of Understanding (MoU) with the Official Creditor Committee (OCC).
Diplomatic Notes related to the bilateral agreement were exchanged yesterday between Finance, Planning and Economic Development Ministry Secretary Dr. Harshana Suriyapperuma and British High Commissioner in Colombo Andrew Patrick.
Under the agreement, the rescheduled debt amounts to USD 86.07 million and JPY 582.94 million.
In a statement, the Finance Ministry said the agreement will not only support Sri Lanka’s external debt restructuring efforts but also strengthen the longstanding bilateral relationship between Colombo and London.
It described the deal as a “significant milestone” in the external debt restructuring process, underscoring the government’s commitment to restoring debt sustainability at the earliest possible time and laying the foundation for economic recovery.
