Sri Lanka President highlighted challenges faced in debt restructuring process to U.S. Treasury Secretary

Sri Lanka President Ranil Wickremesinghe met with U.S. Secretary of the Treasury Janet Yellen on Thursday (June 22) on the sidelines of the Paris Summit for a New Global Financing Pact.

Sri Lanka President Wickremesinghe expressed his sincere appreciation to the United States for its support in Sri Lanka’s debt relief measures and increased financial assistance for sustainable development.

President Ranil Wickremesinghe commended Secretary Yellen’s leadership in this regard.

Secretary Yellen reaffirmed the United States’ backing for Sri Lanka’s reform agenda and requested an update on the country’s progress with the International Monetary Fund (IMF) procedures.

The President briefed Secretary Yellen on the current situation and highlighted the challenges faced in the debt restructuring process.

Nevertheless, he said that Sri Lanka had chosen to take control of the situation and move forward with determination.

President Wickremesinghe also provided an update on the on-going discussions with bilateral creditors.

Secretary Yellen was also briefed on the Sri Lankan government’s economic objectives and climate prosperity plan.

The President emphasized Sri Lanka’s intention to involve the private sector in this process.

The US delegation was also updated on the upcoming visit and the engagement between the two countries.

Sri Lanka President Ranil Wickremesinghe extended an invitation to U.S. Secretary of the Treasury Janet Yellen to visit Sri Lanka.