Japan denies preparations to host debt restructuring conference for SL

Thursday, 1 September 2022 02:55 - - {{hitsCtrl.values.hits}}

Japanese Foreign Minister says Govt. is monitoring situation in SL
Says not in talks with SL to host conference for debt restructuring
Urges country to coordinate with IMF and Paris Club to implement solutions for crisis

The Japanese Minister of Foreign Affairs has denied claims the country’s Government is making preparations to host a debt restructuring conference on behalf of Sri Lanka.

In response to a question posed by a journalist at a press conference held on Tuesday, Japanese Minister of Foreign Affairs Yoshimasa Hayashi said there is no preparation to hold such a conference with Sri Lanka.

“We are having various interactions with Sri Lanka. We are also carefully monitoring the grave economic situation in Sri Lanka. Given the economic crisis situation in the country we are currently implementing plans to provide humanitarian aid in the form of pharmaceutical products and food to the country,” he said.

“We hope the Sri Lankan Government in coordination with the International Monetary Fund (IMF) and the Paris club are trying to implement financial and economic solutions while ensuring transparency. Our country will carefully monitor the situation in Sri Lanka and discuss with Sri Lanka or other international donor organisations,” he added.

However, Japanese Minister of Finance Shunichi Suzuki has in the meantime urged all creditor nations to gather and discuss Sri Lanka’s debt at the same table. Suzuki was quoted as telling reporters that Japan would coordinate with other creditors to resolve Sri Lanka’s deepening financial crisis. Suzuki said Sri Lanka must accelerate talks with the IMF on a bailout and that all bilateral creditors, including China and India, must gather to discuss the issue.

President Ranil Wickremesinghe had told a foreign publication this month that Sri Lanka would ask Japan to invite the main creditor nations to talks on restructuring bilateral debts. He said he would discuss the issue with Prime Minister Fumio Kishida in Tokyo next month.

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