Sri Lanka, Jan. 7 -- Sri Lanka and Germany have entered into a bilateral agreement in relation to the external debt restructuring process, the Ministry of Finance said in a statement.

The agreement marks a significant milestone and reflects Sri Lankan government's continued commitment to conclude the debt restructuring process successfully in order to restore debt sustainability and revamp the economy, the Ministry added.

Following bilateral discussions after the conclusion of the Memorandum of Understanding with the Official Creditor Committee (OCC), the Government of Germany had agreed to extend a debt relief measure by rescheduling the outstanding debts.

Accordingly, the bilateral agreement was signed by Dr. Harshana Suriyapperuma, ...