State Minister Foresees Positive Outcomes in Debt Talks

COLOMBO (News 1st); Shehan Semasinghe, the State Minister of Finance outlined the key components of the restructuring process, emphasizing the principles of comparability of treatment among all creditors and alignment with debt sustainability analysis. 

"The basis of the entire restructuring process had two elements. One was the comparability of treatment among every creditor. Number Two, was this debt treatment to be in line with the debt sustainability analysis. If one party has not endorsed the comparability of treatment, we cannot go ahead. So, all the creditors have ensured and endorsed the comparability of treatment," he told reporters.

He reassured that all creditors have endorsed this approach, underscoring the transparency and success of the collaborative process involving multiple countries and creditors.

The State Minister acknowledged the pivotal role played by the OCC in ensuring a smooth restructuring process over the past 15 months.

He expressed optimism about ongoing engagements with advisors from the ad-hoc bondholders group and mentioned expectations of positive outcomes in the near future.

"The engagements are taking place positively among advisors, the advisors of the ad-hoc bondholders group, as well as our advisors. We expect another good news to be concluded very soon," he added.