Sri Lanka’s Debt Restructuring Framework to be Implemented by 2024, Says President

Sri Lanka’s President Confirms Debt Restructuring Framework Target

Sri Lanka’s president announced on Wednesday that the country is expected to implement a debt restructuring framework within the first six months of 2024. This comes as the nation continues to recover from its worst financial crisis in decades, caused by a severe shortage of foreign exchange. President Ranil Wickremesinghe, who took office in mid-2022, expressed confidence in the country’s recovery.

Sri Lanka Aims for 3% GDP Growth in 2024

President Wickremesinghe also stated that Sri Lanka is aiming to grow its gross domestic product (GDP) by up to 3% this year. This ambitious goal reflects the country’s determination to overcome the challenges posed by the financial crisis and set itself on a path of sustainable economic growth.