Sri Lanka's Debt Solution Gains Global Support

Sri Lanka has secured backing from bilateral creditors and the International Monetary Fund for the reworking of its $12.5 billion bondholder debt, according to a statement released by the finance ministry.

Sri Lanka has made progress in addressing its substantial bondholder debt, valued at $12.5 billion, by garnering support from bilateral creditors and the International Monetary Fund (IMF). This was revealed in a recent statement from the country's finance ministry.

The backing from these key international financial entities marks a vital step in Sri Lanka's efforts to stabilize its economy and manage its debt obligations effectively.

The finance ministry noted this collaborative approach as a crucial element in reassuring creditors and fostering confidence in the nation's financial strategies moving forward.

(With inputs from agencies.)