J
ulie Chung, US Ambassador to Sri Lanka, has expressed the United States’ positive reception to the recent agreement on debt restructuring between Sri Lanka and its creditor nations. The announcement, made on Wednesday, June 26, signifies a significant step forward in Sri Lanka’s economic recovery and resilience, according to a tweet from the diplomat.
“The agreement is a positive step forward in Sri Lanka’s economic recovery and resilience, helping build more confidence in Sri Lanka’s fiscal environment,” Ambassador Chung tweeted Wednesday afternoon.
She encouraged Sri Lanka to maintain its momentum in the reform process, emphasizing the importance of adopting transparent and sustainable changes that promote long-term prosperity and growth.
The agreement was finalized during discussions held on the sidelines of the Paris Forum 2024 in France. State Minister of Finance Shehan Semasinsghe also confirmed the development in a tweet from Paris, expressing gratitude to the Official Creditor Committee (OCC) chairs – France, India, and Japan – as well as the Export Import Bank of China for their leadership throughout the process.
“I also commend the OCC Secretariat for their dedication to finding a resolution to our debt crisis and achieve this significant milestone, which will enhance confidence in our economy and foster growth,” Minister Semasinsghe stated.
Ambassador Chung had previously underscored the importance of fairness in Sri Lanka’s debt restructuring efforts, emphasizing equal treatment for all creditors and transparency from all parties involved. She reiterated the US commitment to fostering an economic environment in Sri Lanka that values fairness, transparency, integrity, and inclusivity, ensuring stability and sustainable growth.
Following a meeting with Central Bank Governor Nandalal Weerasinghe, Ambassador Chung reaffirmed the US support for Sri Lanka’s efforts, noting progress in securing the second tranche of the IMF loan and the ongoing economic reforms.
