Japan ready to do its part

1 October 2022 12:00 am Views - 151

But other creditors China , India get involved - Japanese Finance Minister

• Sri Lanka to provide the necessary information, make its own efforts to get China, India and other creditors involved and boost transparency
• Japan will do its part if such preconditions are met

By Yohan Perera   

Japan is prepared to “do its part” over Sri Lanka’s debt issue, but other creditors, such as China and India, should also be involved in efforts to resolve it, Finance Minister Shunichi Suzuki said.  

Suzuki made the remarks after meeting with President Ranil Wickremesinghe, according to Japanese media. Sri Lanka has reached a preliminary agreement with the International Monetary Fund on a $2.9 billion loan as the Asian nation needs to restructure its massive debt.  

Suzuki said he urged Sri Lanka during Thursday’s meeting to provide the necessary information, make its own efforts to get China, India and other creditors involved and boost transparency.   

“Japan will do its part if such preconditions are met,” Suzuki told reporters without elaborating in the Philippine capital Manila, where he attended a meeting of the Asian Development Bank.  

During his visit to Japan, the Sri Lankan president met on Wednesday with Japanese Prime Minister Fumio Kishida and discussed the debt issue. The leaders recognized the importance of “fair and transparent” debt restructuring that involves all creditor nations, according to the Japanese Foreign Ministry