Sri Lanka's Ali Sabry Pledges Equal Treatment in Debt Restructuring

COLOMBO (News 1st); Sri Lanka's Minister of Foreign Affairs Ali Sabry, PC reassured the island nations commitment that all bilateral partners and the creditors will be treated equally, all treatment will be comparable and. no one will be given special status. 

"So that is an undertaking on behalf of our people." he told reporters during a joint media briefing with his Japanese counterpart in Tokyo.

Sri Lanka expressed deep gratitude to Japan for its pivotal role in the external debt restructuring process.

'"We are deeply grateful to Japan for the important supportive role in the external debt restructuring process. As Co-chair of the Official Creditor Committee, I explained to her excellency during a discussion about the Sri Lanka's debt sustainable analysis as provided by the IMF," said Ali Sabry.

During the briefing, the Sri Lankan Minister emphasized the progress made in local debt restructuring and private restructuring.

The nation is on the verge of finalizing negotiations with sovereign bondholders, a crucial step in achieving financial stability. 

The Foreing Minister reaffirmed Sri Lanka's commitment to treating all bilateral partners and creditors equally, ensuring comparable treatment without granting special status to any party.

Sri Lanka also extended an invitation to receive Japanese investment projects already in the pipeline. The country welcomes fresh investments from Japan across various sectors, including power infrastructure, ports, highways, and the digital economy, said the Foreign Minister.

Additionally, Sri Lanka emphasized its belief in the freedom of navigation in the Indian Ocean and airspace. 

"Sri Lanka believes in the freedom of navigation in the Indian Ocean and of the airspace to ensure smooth and dynamic function of the international commerce and shipping," he added.