Addressing the nation today (26), President Ranil Wickremesinghe announced that a final agreement was reached in the talks held in France with Sri Lanka’s main official bilateral creditors, which is good news for all who love the country. At the same time, the President stated that an agreement was reached between Sri Lanka and China’s Exim Bank regarding debt restructuring during the talks held in Beijing.
The President further said that the goal is to reach an agreement with commercial creditors, including foreign bondholders, and for that, we must continue on this path.
Accordingly, President Ranil Wickremesinghe said that in the future, Sri Lanka will be able to do business with the international community again, and development projects from foreign countries that were stopped after declaring bankruptcy will be able to resume.
“We had to spend 9.2% of the gross domestic product in 2022 to pay the foreign debt. From 2027 to 2032, it will now be possible to maintain debt payments at less than 4.5% of the gross domestic product,” said President Ranil Wickremesinghe.
He mentioned that with these agreements, we will be able to postpone the payment of all bilateral debt installments to foreign countries until 2028, and then we will have a long period until 2043 to pay off all the debts on concessional terms.
“Do you truly understand the challenges faced by the country, provide practical solutions, and move the country forward together with those who have shown results? Or will you join the groups that have not yet understood the problem and are groping in the dark for power?” the President asked.
“Will you continue with me who has shown results? Or change the route? Make the right decision. Ranil Wickremesinghe’s future is not determined by your decision. It is the future of the country,” he said.
President Ranil Wickremesinghe stated that he has safely brought the child Sri Lanka over the Vine Bridge and that many people are now struggling to get the child before crossing the Vine Bridge. “But the mother who has motherly qualities will get the child,” he expressed his confidence.
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