### 🇱🇰 Sri Lanka Inks Debt Restructuring Deal with Belgium

Sri Lanka has reached a formal agreement with CREDENDO, the Export Credit Agency of Belgium, to restructure outstanding bilateral debt. This move follows the broader Memorandum of Understanding (MoU) signed with the Official Creditor Committee (OCC) in mid-2024 to restore long-term debt sustainability. • Financial Impact: The agreement covers the rescheduling of approximately Euro 9.6 million in outstanding debt. • Relief Mechanism: The agency has agreed to extend debt relief by rescheduling payments, providing critical fiscal breathing space for the national economy. • Signatories: The Bilateral Agreement was signed by Dr. Harshana Suriyapperuma, Secretary to the Treasury, and Mr. Dirk Terweduwe, CEO of CREDENDO. • Strategic Context: This is part of a series of individual bilateral agreements (following similar deals with Germany and other OCC members) required to finalize the external debt restructuring process initiated during the 2022 economic crisis. • Economic Outlook: Finalizing these legal frameworks is essential for revamping the economy and maintaining the momentum of the IMF-supported reform program.