SL seeks Indian help to engage G20 for debt restructuring

• The request was made when SL’s High Commissioner to India Milinda Moragoda met with Chief Coordinator for India’s G20 Presidency for 2023 Harsh Vardhan Shringla in New Delhi recently

By Kelum Bandara   

Sri Lanka has sought India’s assistance to engage G20 for debt restructuring and financial assistance, Daily Mirror learns. India holds presidency of G20.  

It was requested when Sri Lanka’s High Commissioner to India Milinda Moragoda met with Chief Coordinator for India’s G20 Presidency for 2023 Harsh Vardhan Shringla in New Delhi recently .  

India assumed the presidency of the G20 on 01 December 2022 for one year. Under its Presidency, India is expected to host over 200 G20 meetings in 56 cities across the country, beginning December ,2022. The G20 Leaders’ Summit at the level of Heads of State / Government is scheduled to be held on 09 and 10 September 2023 in New Delhi.  

The G20 or Group of Twenty is an intergovernmental forum comprising 19 countries and the European Union, which works to address major issues related to the global economy, such as international financial stability, climate change mitigation.  

State Minister of Finance Shehan Semasinghe said earlier that Sri Lanka is yet to reach an agreement with its creditors. Also , he said Sri Lanka is unable to reach the final agreement with the International Monetary Fund ( IMF) this year.