India, Japan, France announce launch of negotiations to restructure Sri Lanka's debt
Washington/IBNS: India, Japan, and France today announced the launch of the debt restructuring negotiation process for Sri Lanka.
The announcement was made during a high-level meeting on Sri Lankan debt issues on the sidelines of the International Monetary Fund (IMF)- World Bank (WB) Spring Meetings in Washington, USA.
Union Finance Minister Nirmala Sitharaman participated in the discussions along with Japan’s Finance Minister Suzuki Shunichi and France’s Director General of the Treasury Emmanuel Moulin and Sri Lanka’s State Minister of Finance Shehan Semasinghe.
President and Minister of Finance of Sri Lanka Ranil Wickremesinghe attended the crucial meeting virtually.
During the discussions, Sitharaman expressed India’s commitment to supporting Sri Lanka in dealing with its current economic crisis. She emphasised that collaboration among creditors is important to ensure transparency and equality in the treatment of all creditors in the debt restructuring discussions.
The objective of the meeting was to demonstrate the multilateral cooperation regarding the debt restructuring process among Sri Lanka’s creditors.
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