Sri Lanka's Finance Secretary, Mahinda Siriwardena, has expressed optimism about closing the chapter on the country's debt treatment, a move crucial for stabilizing the economy and attracting fresh financing.

He highlighted the big role of China in supporting Sri Lanka amid ongoing economic challenges. He noted that China's financial aid has been vital, especially during crises, and its involvement has been pivotal in the ongoing debt treatment process, which began following the severe economic downturn in mid-2021.

In October 2023, China was the first official creditor to agree on key financial terms for debt treatment owed to the Exim Bank of China. This was followed by a final agreement in June 2024, coinciding with a memorandum of understanding with the Official Credit Committee, co-chaired by France, India, and Japan. The Exim Bank of China has already completed its debt treatment process, and significant progress has been made with the China Development Bank.

He acknowledged the complexities of the debt treatment process but emphasized the importance of mutual trust between creditors and the Sri Lankan government. He remains hopeful that a robust financial relationship will soon be reestablished, enabling the country to secure funding for priority projects.