The Government of Sri Lanka and the Government of Australia signed bilateral agreements on external debt restructuring today(27), marking a significant step towards Sri Lanka's debt sustainability.

The deal, which follows a Memorandum of Understanding (MoU) with the Official Creditor Committee (OCC), restructures outstanding debt obligations estimated at approximately $39 million.

The Ministry of Finance stated the agreement reflects Sri Lanka’s commitment to finalising the restructuring process. 

The documents were exchanged by Dr. Harshana Suriyapperuma, Finance Secretary, and Matthew Duckworth, Australia’s High Commissioner Designate. 

The agreement also strengthens the longstanding ties between the two nations.