High-level event on Sri Lankan debt issues on the sidelines of IMF/ WB Spring meetings in Washington
On Friday, India, Japan, and France announced the launch of the debt restructuring negotiation process on Sri Lanka. Finance Minister Nirmala Sitharaman expressed India’s commitment to support Sri Lanka in dealing with its current economic crisis.
The three nations – India, Japan, and France agreed to lead the coordinated debt restructuring of Sri Lanka. The three nations participated in and co-chaired a high-level event on Sri Lankan debt issues on the sidelines of the International Monetary Fund (IMF) – World Bank (WB) Spring Meetings in Washington.
The event’s purpose was to demonstrate the multilateral cooperation regarding the debt restructuring process among the creditors, together with Sri Lanka.
Nirmala Sitharaman emphasized that collaboration among creditors is important to ensure transparency and equality in the treatment of all creditors in the debt restructuring discussions.
Japanese Finance Minister Suzuki Shunichi, Emmanuel Moulin, director general of the treasury of France, and Sri Lanka’s State Finance Minister Shehan Semasinghe, were present at the meeting.
Sri Lankan President Ranil Wickremesinghe and Finance Minister participated virtually in the event.
[With Inputs from IANS]
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