 Sri Lanka has reached a debt restructuring deal with its key bilateral lenders in a major step towards financial recovery. The agreement covers up to $10 billion of loans. Sri Lanka defaulted on its foreign debt more than two years ago after running out of foreign exchange. In a televised address, the president, Ronil Wickramasinghe, said separate agreements had been signed with China, Sri Lanka's biggest lender, and a Paris-based grouping, which includes Japan and India. He said Sri Lanka's future is now secure.