Japan, India and France presented a plan to overcome the debt crisis in Sri Lanka on April 14, reports the NHK television channel.
The countries unveiled the plan in Washington, where finance ministers and central bank governors from the G20 countries had previously met. Among the proposals is an appeal to countries that have provided money to Sri Lanka to start negotiations on payment terms.
China provided Sri Lanka with large loans, but the Chinese authorities have not yet explained whether they will participate in the new initiative. Japan’s Finance Minister Shun’ichi Suzuki said sponsors of the project are open to all and expressed the hope that China will also join their efforts.
Suzuki expressed his hope that coordination among all stakeholders will enable the restructuring of Sri Lanka’s debts in the near future.
Remember that Sri Lanka’s financial situation has deteriorated a lot in the context of unsuccessful fiscal policy, sharp price increases and the depreciation of the national currency. The country has suspended foreign debt payments since April last year.
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Source: Rossa Primavera
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