Sri Lanka targets debt restructuring framework in first 6 months of 2024 – President

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Sri Lanka targets debt restructuring framework in first 6 months of 2024 - President © Reuters. FILE PHOTO: Sri Lanka’s President Ranil Wickremesinghe looks on as he attends an interview with Reuters at his office in Colombo, Sri Lanka November 28,2023. REUTERS/Dinuka Liyanawatte

COLOMBO (Reuters) – Sri Lanka expects to implement a debt restructuring framework within the first six months of 2024, the country’s president said on Wednesday, expressing confidence that the nation was recovering from its worst financial crisis in decades.

President Ranil Wickremesinghe, who took over in mid-2022 amid a debilitating financial crisis caused by a severe shortage of foreign exchange, told the ceremonial opening of parliament that the island nation was aiming to grow its gross domestic product (GDP) by upto 3% this year.

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