Forgive Us

Sri Lanka's finance minister said Monday that the island has accepted debt moratoriums offered by creditor nations following December's devastating tsunami.







Sri Lanka's finance minister said Monday that the island has accepted debt moratoriums offered by creditor nations following December's devastating tsunami. "We have written to all the governments that we will be accepting their debt moratorium offers," Sarath Amunugama said at a news conference.




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He didn't give a value for the debt moratoriums that the country has accepted.

Treasury Secretary P.B. Jayasundera, who was also at the news conference, said he would announce more details of the moratoriums after these are finalized.

The moratoriums will help the country's balance of payments position and ease cash-strapped government finances.

Sri Lanka, analysts say, was scheduled to pay $360 million in debt repayment and $200 million in interest payments this year, both of which could be pushed back by a year now.

January, the Paris Club of the world's wealthiest creditor nations approved a moratorium on debt repayments of tsunami-affected countries.

The Paris Club comp