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ஜெனரல்
Sri Lanka’s Cabinet approved a debt restructuring agreement with JICA, following bipartisan negotiations and legal clearance, aiming to boost investor confidence and secure further international financial support.
Sri Lanka has taken a significant step toward finalizing its debt restructuring process with Japan, as the Cabinet of Ministers approved the signing of exchange notes and an amended agreement with the Japan International Cooperation Agency (JICA). This follows bipartisan negotiations and Sri Lanka’s June 2024 Memorandum of Understanding (MoU) with the Official Creditor Committee (OCC). Cabinet Spokesman Dr. Nalinda Jayatissa confirmed that the Attorney General has granted legal clearance, paving the way for an agreement between JICA and Airport Aviation Services (Sri Lanka) Ltd. Japan’s support has been crucial in Sri Lanka’s economic recovery, providing concessional financing and development assistance, and this restructuring deal is expected to boost investor confidence and attract further international financial support. The proposal, submitted by President Anura Kumara Dissanayake in his capacity as Finance, Planning, and Economic Development Minister, received Cabinet approval.
