Debt restructuring key to any recovery: Japan’s Kotaro

Monday, 1 April 2024 04:37 - - {{hitsCtrl.values.hits}}

Japan Deputy Head of Mission Kotaro Katsuki

Japan’s Deputy Head of Mission Kotaro Katsuki on Saturday asserted that without restructuring the external debt, Sri Lanka cannot move forward.

“Therefore the external debt restructuring must be concluded with a sense of urgency,” said Kotaro speaking at the Daily FT-BOI ICCSL webinar titled “The FTA pathway: Exploring Sri Lanka’s Export and FDI Potential.”

Delivering the keynote in the webinar, Foreign Affairs Minister Ali Sabry emphasised that Sri Lanka’s key location and potential for growth must not be neglected, and the country must move towards a more robust system of trade with our regional partners and those on distant shores.

Sabry noted, “We have much to gain from positive FTAs, and we must move towards a system of production that is globally competitive, and not only catering to the domestic market.”

However, Sabry emphasised that negotiations must be strategic, stakeholder driven and focused, and must take into consideration the opportunities and threats.

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