Creditors’ Meeting launched; Japan, India & France agree on swift debt restructuring negotiation for SL

Japan, India, and France in the margins of the Spring Meetings on Thursday formally launched the Creditors’ Meeting on Sri Lanka's debt restructuring negotiation process.

The three creditor countries said they have been closely working toward a coordinated and swift debt restructuring for Sri Lanka which will provide a comparable treatment for every creditor.

Japanese Minister of Finance Shunichi Suzuki, Vice Minister of Finance Masato Kanda, Indian Minister of Finance Nirmala Sitharaman, France Director General of the Treasury Emmanuel Moulin, Sri Lankan President and Minister of Finance Ranil Wickremesinghe (via online), State Minister of Finance Shehan Semasinghe, and IMF Deputy Managing Director Kenji Okamura participated in the press briefing.

"I'm very happy to report to you that the agreement has been reached to launch the Creditors' Meeting on Sri Lanka.

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Japan together with France and India have been searching for a way to resolve the debt issue of Sri Lanka. Today, the Creditors' Meeting has been agreed to be launched; this is the outcome of this endeavor," Japanese Minister of Finance Shunichi Suzuki said.

"To see the launch of such a broad cooperative framework among the creditors is a historic foot. This meeting is open to all creditors.

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We will instruct the vice minister's level to swiftly start the negotiation while creditors consort we will seek debtor Sri Lanka to fulfill their external commitment and under the IMF support program continue their reform efforts.
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Japan in close cooperation with other countries and IMF will work towards prompt implementation of debt restructuring. Debt restructuring will be agreed quickly with all relevant parties incorporating."

Related: Creditor committee to ensure comparable treatment; IMF expects negotiations to end by 1st program review

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