Sri Lanka: G7 welcomes debt treatment efforts

Marrakech (News 1st); The G7 Finance Ministers and Central Bank Governors on Thursday (12) welcomed the significant progress at the official creditor committee towards agreement on debt treatment for Sri Lanka, and said that they look forward to its swift resolution.

Japanese Finance Minister Shun'ichi Suzuki making the announcement on the sidelines of the 2023 Annual Meetings of the World Bank and the International Monetary Fund in Marrakech, Morocco said that Sri Lanka's debt restructuring is outside the G20 Common Framework.

"Japan, France, and India became the co-chairs of a framework for Sri Lanka," he said adding that the details of this program was shared with the G7 membership. 

He said that the members will push ahead with this initiative, and it was welcomed and supported by the G7 members.

The Finance Minister said that Japan places importance on transparency with regard to the credit burden, and added that stakeholders must share the information.