Lanka approves debt restructuring; to ink deal on Jun 26: Govt spokesman

Cash-strapped Sri Lanka has approved the debt restructuring deal with its creditors while the negotiations with international sovereign bondholders are to be continued further, cabinet spokesperson and minister Bandula Gunawardena said on Tuesday.

Gunawardena also said that top treasury officials along with the minister of state for finance have been sent to Paris to sign the relevant agreements with the Official Creditors Committee which comprises two types of creditors called Paris Creditors and Non-Paris Creditors.

There are a group of 15 countries under the Paris Creditors group whereas seven countries, including India in the Non-Paris Creditors.

"Sri Lanka on Tuesday approved the debt restructuring deal with creditors committee while the negotiations with international sovereign bondholders are to be continued further," Gunawardena, the minister for Transport, Highways and Mass Media said.

"Sri Lanka faced its worst crisis since independence when we were no longer able to meet