The debt restructuring agreements with China and the OCC are significant steps forward in Sri Lanka’s efforts to address its debt crisis, but there is still work to be done to finalize the details and implement the terms.
For President Wickremesinghe, these agreements are a major victory. He has been working hard to secure debt relief and unlock IMF assistance, and these agreements are a vindication of his efforts. They will also help to improve his domestic political standing.
However, Wickremesinghe also faces a number of challenges ahead. The economy is still in a very difficult situation, and it will take time to recover. He will also need to manage the expectations of the Sri Lankan people, who are eager to see the benefits of the debt restructuring agreements.
Overall, the debt restructuring agreements are a positive development for Sri Lanka, but there is still a long way to go. Wickremesinghe will need to continue to work hard to steer the country through its economic challenges.