Debt restructuring deal aids Sri Lanka's economic revival: Wickremesinghe

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Debt restructuring deal aids Sri Lanka's economic revival: Wickremesinghe - Business Standard

Quick Summary:

Briefing Parliament on the country's resulting benefits of the correct course of action, President Wickremesinghe also countered the Opposition's criticism of the debt restructuring agreement with major bilateral creditors and promised to table all agreements and documents related to it to a Parliamentary panel.

President Ranil Wickremesinghe on Tuesday said substantial progress" has been achieved in Sri Lanka's debt restructuring, which he said provided the much-needed breathing space for the cash-strapped country to transform its bankrupt economy into a resilient and stable one.

The unprecedented financial crisis led President Ranil Wickremesinghe's predecessor Gotabaya Rajapaksa to quit office in 2022 amid civil unrest.