In order to resolve the debt problem of Sri Lanka, which has fallen into a serious economic crisis, the creditor countries held their first meeting to discuss the issue, and they agreed to aim for an early agreement on changes in repayment conditions to bail out Sri Lanka.
Sri Lanka has suffered from rapid currency depreciation and inflation due to the failure of fiscal policy, and has suspended external debt payments since April 2002.
In order to resolve Sri Lanka's debt problem, a new framework was launched in April under the leadership of Japan and other organizations to discuss changes in repayment conditions, and the first consultation was held online on April 4, Japan time.
At the meeting, the Sri Lankan side expressed its intention to promote economic and fiscal reform and work to repay debts.
In response to this, at the meeting, it was agreed that each creditor country would decide how to change the repayment conditions in an early and coordinated manner toward the relief of Sri Lanka.
On the other hand, China, which is considered the largest creditor to Sri Lanka, did not participate as a formal participant, but as an observer.
The Japan of the Presidency intends to continue to call on China to formally participate in resolving the debt issue.
After the talks, Finance Minister Kanda, who was in charge of the negotiations, told reporters, "Dealing with Sri Lanka's debt problem is an urgent issue, so we would like to proceed with negotiations with the aim of reaching an agreement as soon as possible."