Sri Lanka, June 17 -- France and Sri Lanka have today signed a bilateral agreement to implement the recommendations of the Memorandum of Understanding (MoU) on Sri Lanka's debt restructuring, concluded on June 26, 2024.

The MoU was reached with the Official Creditors Committee, co-chaired by France, India, and Japan, alongside Paris Club creditors.

Under the agreement, Sri Lanka's debt stock of Euro 390 million will be rescheduled through 2042, including a five-year grace period and a cap on original interest rates.

The agreement was signed by William Roos, Assistant Secretary for Multilateral Affairs, Trade and Development at the French Treasury, and Mahinda Siriwardana, Secretary to the Sri Lankan Ministry of Finance, Planning and E...