SL debt negotiation process open to all creditors - Japan

COLOMBO (News 1st);  Japanese Finance Minister Shunichi Suzuki told a briefing that debt negotiation process for Sri Lanka is open to all creditors.

His comments were aimed at China hoping the south-east asian powerhouse would join the efforts to restructure Sri Lanka's debt.

Japan, India and France on Thursday announced a common platform for talks among bilateral creditors to coordinate restructuring of Sri Lanka's debt.

According to Reuters, this is a move the three creditor nations hope would serve as a model for solving the debt woes of middle-income economies.

Japan, this year's chair of the Group of Seven industrialized countries, has taken the lead with the India and France in preparing a common framework to help Sri Lanka emerge from the crisis.

Japanese Finance Minister Shunichi Suzuki, speaking at an event to announce the launch, said it is a "historic accomplishment."

Suzuki said it is important that not just the Paris Club of wealthy creditor countries but also emerging creditors, such as China, come together to discuss the restructuring. He stressed that the new platform is "open to all creditors."