Timely resolution needed for Sri Lanka's debt - G20

Marrakech (News 1st); The G20 Finance Ministers and Central Bank Governors have welcomed all efforts for timely resolution of the debt situation of Sri Lanka and the ongoing progress, and called for its swift conclusion as soon as possible.

This was announced following the Fourth G20 Finance Ministers and Central Bank Governors Meeting in Marrakech, Morocco that took place on the 12th and 13th of October.

A G20 communiqué noted that the Finance Ministers and Central Bank Governors encouraged the efforts of the Global Sovereign Debt Roundtable participants to strengthen communication and foster a common understanding among key stakeholders, both within and outside the Common Framework, for facilitating effective debt treatment.

The G20 Finance Ministers and Central Bank Governors have also appreciated the efforts of the International Financial Architecture Working Group in taking forward the work on the debt agenda, including the preparation of G20 Note on the Global Debt Landscape.

They also welcomed the joint efforts by all stakeholders, including private creditors, to continue working towards enhancing debt transparency.