U.S. assures support for restructuring Sri Lanka debt
Posted on September 7th, 2022

Courtesy Adaderana

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.

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