Sri Lanka and Japan sign key agreements in external debt restructuring process

Saturday, 8 March 2025 00:26 - - {{hitsCtrl.values.hits}}

Concludes signing of Exchange of Notes between GoSL and Govt. of Japan and bilateral Amendment Agreement with JICA

In a significant step towards restoring debt sustainability, the Government yesterday signed a bilateral Amendment Agreement with the Japan International Cooperation Agency (JICA) and Exchange of Notes with the Government of Japan as part of its external debt restructuring process.

The conclusion of the Exchange of Notes and signing of the Amendment Agreement marks a milestone in Sri Lanka’s commitment to wrap up the restructuring process, which is crucial to revitalising the country’s economy.

The Exchange of Notes was signed by Finance, Planning and Economic Development Ministry Secretary Mahinda Siriwardana on behalf of Sri Lanka and Japanese Ambassador Akio Isomata on behalf of the Government of Japan.

The bilateral Amendment Agreement was signed between Finance, Planning and Economic Development Ministry Secretary Mahinda Siriwardana and JICA Chief Representative Tetsuya Yamada.

The Government of Japan has played a pivotal role in spearheading Sri Lanka’s external debt restructuring process, co-chairing the Official Creditor Committee (OCC) alongside France and India. Its leadership, commitment, and constructive engagement have been instrumental in helping Sri Lanka navigate the challenges of economic recovery.

This spirit of cooperation has enabled the Government of Sri Lanka to make meaningful progress towards restoring debt sustainability.

Issuing a statement, the Finance, Planning and Economic Development Ministry noted that the conclusion of the Exchange of Notes and signing of the Amendment Agreement will certainly pave the way to developing further the deep and long-standing bilateral relationship between the Government of Japan and the Government of Sri Lanka.

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