Sri Lanka signed a deal with Japan Friday to restructure $2.5 billion in loans, marking the first agreement with bilateral creditors who had pledged debt relief to the cash-strapped nation last year.

Sri Lanka should avoid tax exemptions and focus on passing a national budget that is in line with parameters set by the ...

Sri Lanka signed a deal with Japan Friday to restructure $2.5 billion in loans, marking the first agreement with bilateral ...

Japan's ambassador to Sri Lanka Akio Isomata (left) with Sri Lanka finance ministry secretary Mahinda Siriwardana after signing the debt restructuring agreement ...