COLOMBO, Nov 29 Reuters Sri Lanka has been informed that a debtrestructuring agreement with creditor nations has been reached but is yet to receive a letter of confirmation from the official creditor committee, a government source told Reuters on Wednesday.

Sri Lanka, mired in its worst financial crisis in decades, has been trying to reach restructuring deals with creditors since last year, having being forced to default on its foreign debt in May 2022 after its foreign exchange reserves dwindled to record lows.

Sri Lanka has been informed of an agreement, the source, who did not want to be identified, said. It is confirmed that an agreement has been reached with bilateral lenders but we are still waiting on an official letter. We expect it soon.

The Sri Lanka president39;s office and the finance ministry did not immediately respond to requests for comment.

Japan cochairs the official creditor committee, together with France and India. China is Sri Lanka39;s largest bilateral creditor and is an observer in the group, steering clear of joining the group as a formal member.

There was no immediate reaction from the bilateral creditors.

The agreement comes about a month after the heavily indebted island nation reached a deal with the ExportImport Bank of China EXIM covering about 4.2 billion of outstanding debt.

The EXIM deal will help Sri Lanka clear the first review of an International Monetary Fund MF bailout, and secure a second IMF funding tranche of about 334…