The final debt restructuring agreement with Sri Lanka is a major accomplishment, according to Japanese Ambassador to Colombo Mizukoshi Hideaki.According to the Japanese embassy, Japan created and oversaw the OCC (Official Creditor Committee) as a framework for coordination that included creditors who were not members of the Paris Club for the first time in debt restructuring for middle-income nations with the intention of resolving Sri Lanka’s financial problems.
“Debt restructuring agreement: GoSL is expected to treat debt equally and fairly by Japan”
The embassy emphasised that Japan expects Sri Lanka to treat its creditors fairly and openly, including other creditor nations and private creditors.
The following is the statement from the Japanese embassy: “The OCC and the Sri Lankan government have agreed on the Memorandum of Understanding (MOU), which describes the specifics of Sri Lanka’s debt treatment. As co-chair of the OCC, Japan expresses great satisfaction with this historic accord.
On Thursday, July 27, Ambassador Hideaki paid a visit to Foreign Minister Ali Sabry, PC, at the Ministry of Foreign Affairs.
The ambassador expressed gratitude for the historic agreement and pledged to keep helping Sri Lanka overcome its economic hardship. Foreign Minister Sabry conveyed his sincere appreciation for Japan’s outstanding leadership during the debt restructuring process, which included a crucial part played by Japan in the establishment of the OCC. Additionally, Foreign Minister Sabry stated that the debt restructuring process was greatly aided by the support given by the Japanese government and people.
Japan also praises the Sri Lankan government for its continued efforts to carry out the extensive social and economic reforms necessary to steer the nation back towards a sustainable course. Japan reiterates its ongoing and steadfast dedication to aiding Sri Lanka.
