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Reuters
Reuters
Business
By Tetsushi Kajimoto

Sri Lanka president vows to conclude debt-restructuring talks by Sept or Nov

Sri Lankan president Ranil Wickremesinghe and Japanese Prime Minister Fumio Kishida shake hands before their meeting at the Prime Minister's Office Thursday, May 25, 2023, in Tokyo. Eugene Hoshiko/Pool via REUTERS

Debt-laden Sri Lanka should be able to conclude a new round of restructuring talks by September or November at the latest, its president said on Thursday, adding that the negotiations had made "remarkable" progress.

The island nation defaulted on its foreign debt for the first time in its history in April last year, as the worst financial crisis since its independence from Britain in 1948 crushed its economy.

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