WELCOME TO ALL SUPPORTERS This file photo shows vehicles queuing to refuel outside a gas station in Colombo, Sri Lanka, May 16, 2022. Sri Lanka’s President’s Media Division, Saturday September 3 2022, announced that the Paris Club has expressed its readiness to start the process of debt relief for Sri Lanka. PHOTO XINHUA
COLUMBUS: The President’s Media Division (PMD) of Sri Lanka announced on Saturday that the Paris Club has expressed its readiness to initiate the process of debt relief for Sri Lanka.
In a statement, the PMD said it was ready to coordinate with official non-Paris Club bilateral creditors to provide the necessary funding assurances in a timely manner.
The Paris Club on Friday welcomed the service-level agreement reached between the Sri Lankan authorities and the staff of the International Monetary Fund for a 48-month arrangement under the Extended Fund Facility.
“This agreement represents an important step in restoring macroeconomic stability and public debt sustainability.”
The Paris Club also said it remained at the disposal of the Sri Lankan authorities and official non-Paris Club bilateral creditors to discuss further the next steps in the debt relief process.