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Sri Lanka crisis

Sri Lanka reaches $5.8bn debt restructuring deal with Japan, India, others

Export-Import Bank of China also signs $4.2bn agreement

Sri Lankan President Ranil Wickremesinghe hailed the debt restructuring plan as a "significant milestone." (Photo by Shinya Sawai)

COLOMBO -- Bankrupt Sri Lanka received a fresh boost on Wednesday after reaching an agreement in Paris to restructure $5.8 billion of debt with creditors, as the government tries to steer the country out of its worst economic crisis.

Sri Lanka's creditor committee includes Japan, South Korea, Australia, the U.S. and France. India also is working with the group as a nonmember creditor.

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