Japan focused on Sri Lanka’s debt restructuring, before resuming projects

29 July 2023 05:05 pm Views - {{hitsCtrl.values.hits}} 8 Bookmark

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Japan's Deputy Director General for Press and Diplomacy Yukiko Okano briefing journalists on the discussions between the two nations, said that a number of investment proposals had been put forward by the Sri Lankan government for Japan's consideration.

"The President raised several projects for Japan's favourable consideration," she said. However, Japan's focus at present would be to assist the debt restructuring process as quickly and smoothly as possible, Okano said.

Specific projects, such as the scrapped Light Rail Transit (LRT) project which was to be funded by the Japanese government, were not discussed during this meeting, the official said.

Okano stressed that new lending has to come only after a favourable outcome is reached with Sri Lanka's debt restructuring efforts. “As a responsible lender, we shouldn't be lending money to countries already in debt," Okano said. The Japanese government however will be discussing these projects with the Sri Lankan government, she added.(Kalani Kumarasinghe)

Comments - 8

Siripala Saturday, 29 July 2023 06:11 PM

Well said and make sense.

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Amaran Saturday, 29 July 2023 07:26 PM

Hope our President reads this sentence carefully - "we shouldn't be lending money to countries already in debt,"

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Real Truth Sunday, 30 July 2023 05:52 AM

While this is the REAL TRUTH the President's office issued a statement implying that the Japanese government is considering these projects. In fact according to this LRT was NOT even discussed

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Sambo Sunday, 30 July 2023 07:53 AM

Well said madam.

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Punchi Sunday, 30 July 2023 12:58 PM

This is a nice way of Japan which has the highest public debt to GDP at 257% in the world saying that no more money from us

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LRT operation Sunday, 30 July 2023 02:19 PM

Appoint Gota as the project manager who is living at the expense of people and Champika as the project engineer.

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Cherath Sunday, 30 July 2023 04:21 PM

Surely any respectable lender wouldn't just offer funds for infrastructure development without first ensuring every cent still outstanding is accounted for. They would facilitate the repayment by agreeing to write off a small % and extending the period. The beneficiary if course will have to guarantee that the balance is paid regularly without defaulting. You cannot expect to get free lunches!

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Abd Sunday, 30 July 2023 05:28 PM

Our country is bankrupt due to rogue politicians present one,no mandate and equally cheat as previous regime, hoarding people’s wealth for personal use in dollars,before coming to terms its good for Japan think twice with whom you are dealing with

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