U.S. assures support for restructuring Sri Lanka debt

U.S. assures support for restructuring Sri Lanka debt

September 7, 2022   10:58 am

The United States Secretary of the Treasury, Janet Yellen, has informed that the U.S., as a creditor nation, will participate in restructuring Sri Lanka’s debt.

A press release issued by the President’s Media Division (PMD) read that the critical need for the full cooperation of all official creditors in debt negotiations and restructuring through timely participation and equal burden sharing have been outlined.

The US Treasury, welcoming President Ranil Wickremesinghe’s proposal for a coordination platform for Sri Lanka’s official bilateral creditors, has urged engagement in this regard.

Sharing the common goal with Sri Lanka of expediting financing assurances, the U.S. has expressed readiness to join other Paris Club members in this process, in keeping with its principles, the PMD said further.

Further the U.S. Treasury has pledged to continue to engage with their other government agencies, as well as the World Bank and Asian Development Bank, to assist the people of Sri Lanka.

It is recalled that the U.S. has supported the people of Sri Lanka inter alia through the provision of school nutrition for children, food vouchers for pregnant women and new mothers, and fertilizer & cash transfers for small and medium scale farmers to increase food production.

The U.S. Department of Treasury has welcomed the Sri Lankan government’s decision to seek IMF assistance through an Extended Fund Facility (EFF), and thereby the recently concluded staff level agreement.

These observations were conveyed by the US Secretary of the Treasury in a communication addressed to President Wickremesinghe, the PMD said further.

Disclaimer: All the comments will be moderated by the AD editorial. Abstain from posting comments that are obscene, defamatory or slanderous. Please avoid outside hyperlinks inside the comment and avoid typing all capitalized comments. Help us delete comments that do not follow these guidelines by flagging them(mouse over a comment and click the flag icon on the right side). Do use these forums to voice your opinions and create healthy discourse.

Most Viewed Video Stories

LIVE🔴 Ada Derana Lunch Time News Bulletin 12.00 pm

LIVE🔴 Ada Derana Lunch Time News Bulletin 12.00 pm

CPC Chairman issues clarification after fuel tanker turns back without unloading

Govt understands the frustration of Sri Lanka's youth PM Harini Amarasuriya (English)

Australia gifts Beechcraft King Air 350 aircraft to Sri Lanka Air Force (English)

Sri Lanka receives 55,000 metric tonnes of MOP fertilizer under World Food Programme (English)

SJB announces its National List MPs (English)

LIVE🔴 Ada Derana Prime Time News Bulletin 6.55 pm

LIVE🔴Ada Derana Lunch Time News Bulletin 12.00 pm