Central Bank Governor Dr. Nandalal Weerasinghe announced that 'good faith negotiations' are currently underway with commercial creditors.

The aim is to achieve an in-principle agreement at the earliest convenience. Dr. Weerasinghe expressed optimism that the agreement will be finalized within the next two months.

This update follows in-principle agreements reached by Sri Lanka with China’s Export-Import (Exim) Bank and the Official Creditor Committee (OCC) in late 2023 for the restructuring of the country's debt.

The negotiations highlight ongoing efforts to navigate the economic challenges faced by Sri Lanka, with a focus on establishing cooperative arrangements with its commercial creditors.