Economic Crisis An Opportunity for Stronger Bonds, says Japan's Ambassador

COLOMBO (News 1st); The Sri Lankan government announcing a default on its debt in April 2022 and what happened in the wake of it, had come as a great shock, disclosed the Ambassador of Japan in Sri Lanka, Mizukoshi Hideaki.

"The day the Sri Lankan government announced a default on its debt in April 2022 and what happened in the wake of it came as a great shock to me, just as it did to everyone else," Ambassador Hideaki remarked. 

He highlighted Japan's historical partnership with Sri Lanka, especially during times of great challenges, and saw the 2022 economic crisis as an opportunity to showcase this strong bond.

Japan played a pivotal role in the establishment of the Official Creditor Committee (OCC) and the completion of the Memorandum of Understanding (MOU) for debt restructuring, steering creditor countries towards a common goal of aiding Sri Lanka. 

However, Ambassador Hideaki noted that debt restructuring was only part of the response. 

Witnessing the severe impact on ordinary people, Japan shifted its focus to providing essential aid, including fuel, food, and medicine, to the most affected.

The year 2022 also marked the 70th anniversary of diplomatic relations between Japan and Sri Lanka. 

Despite the economic challenges, Ambassador Hideaki said he saw this as a chance to forge a new alliance with the Sri Lankan government, aiming to attract the younger generation and foster national reconciliation. 

He stressed that true prosperity for Sri Lanka could only be achieved through national reconciliation and highlighted Japan's efforts to facilitate this process.

"It has been an ambitious endeavor as to whether the international community can make a meaningful contribution as facilitators for Sri Lankan people's efforts towards reconciliation. It is an unfinished work and has not borne concrete fruit yet, but I believe a Sri Lanka where everyone lives peacefully and harmoniously would be stronger and more prosperous," he said.