There is no word on co-chairmanship in debt restructuring

Reuters reported that Japan had not yet officially announced its willingness to co-chair Sri Lanka’s foreign debt restructuring talks. Reuters, citing a government official directly involved in Sri Lanka’s foreign debt restructuring process, said reports that Japan has expressed interest in co-chairing are false.

President Ranil Wickremesinghe informed Parliament today that Sri Lanka has accepted Japan’s invitation to serve as co-chairman of the upcoming round of talks on restructuring the country’s foreign debt. The President issued a special statement about the current economic situation in Sri Lanka, and it is especially noteworthy that Reuters reported this news immediately afterward.

When President Ranil Wickremesinghe went to Japan to attend the funeral of Shinzō Abe, a former Prime Minister of Japan, he also participated in a round of bilateral discussions with the countries Foreign Minister Yoshimasa Hayashi. The international media reported that the Sri Lankan President had expressed his regret to the Japanese Foreign Minister regarding the cancellation of several Japanese investment projects by the previous government.

In that discussion, Yeshivas Hayashi, who expressed his happiness over Japan’s restructuring of Sri Lanka’s debt, expressed his happiness at the progress Sri Lanka has made in relation to the International Monetary Fund and expressed his desire to play a leading role in the restructuring of foreign debt. Further, Sri Lankan international media reported that the foreign minister also stated that his government is ready to explore investment opportunities in Sri Lanka.