Sri Lanka Nears Debt Relief Deal with Major Creditors to Ease Economic Crisis

• Sri Lanka close to finalizing debt treatment plan with India and Paris Club, including likely 6-year moratorium and reduced interest rates

• 17 creditor countries formed Official Creditor Committee (OCC) last year to ease Sri Lanka's debt restructuring negotiations

• Sri Lanka assuring OCC it will negotiate repayment of Chinese loans on comparable terms

• IMF says finalizing agreements with official creditors and private creditors are "critical next steps" in Sri Lanka's economic recovery

• Sri Lanka made progress on IMF review, will get access to $337 million in assistance after Executive Board approval