COLOMBO, Oct. 27 (Xinhua) -- Sri Lanka and Australia have signed agreements on external debt restructuring, the Ministry of Finance of Sri Lanka said in a statement on Monday.
The agreements followed a memorandum of understanding reached earlier this year with the official creditor committee. Under the new arrangements, Australia has agreed to extend debt relief to Sri Lanka by rescheduling outstanding obligations amounting to around 39 million U.S. dollars.
The ministry said the agreements would contribute to Sri Lanka's path toward economic stability while further strengthening bilateral relations between the two countries.
