Sri Lanka signs key debt restructuring agreements with Japan
March 7, 2025 02:05 pm
The signing ceremony of the Exchange of Notes between the Government of Sri Lanka and the Government of Japan and the Amendment Agreements between Sri Lanka and Japan International Cooperation Agency (JICA) under the debt restructuring process was held at the Ministry of Finance premises this afternoon (07).
The Exchange of Notes were signed by Secretary of the Ministry of Finance, Planning, and Economic Development Mahinda Siriwardana on behalf of the Government of Sri Lanka and Ambassador of Japan to Sri Lanka Akio ISOMATA on behalf of the Government of Japan.
A further bilateral Amendment Agreement was signed by Secretary of the Ministry of Finance Mahinda Siriwardana on behalf of the Government of Sri Lanka and Tetsuya Yamada, Chief Representative on behalf of JICA.
Issuing a statement following the ceremony, Sri Lanka’s Department of External Resources said that the signing of the bilateral Amendment Agreement with the JICA and the Exchange of Notes with the Government of Japan in relation to the External Debt Restructuring Process, is a significant milestone of the External Debt Restructuring Process and testament to Sri Lanka’s commitment to conclude the restructuring process as soon as possible to restore debt sustainability and thereby revamp Sri Lanka’s economy.
“The Government of Japan has played a pivotal role in spearheading Sri Lanka’s External Debt Restructuring Process, co-chairing the Official Creditor Committee 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 toward restoring debt sustainability”, the statement added.
Furthermore, the External Resources Department 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 longstanding bilateral relationships between the Government of Japan and the Government of Sri Lanka.
