Recent launch of a coordinated debt restructuring program welcomed by Japan

COLOMBO (News 1st) - Japanese Finance Minister Shunichi Suzuki has welcomed the recent launch of a coordinated debt restructuring program for the bilateral creditors of crisis-hit Sri Lanka, with Japan, India and France announcing the start of the process in April. 

Speaking at the meeting of the ADB's Board of Governors, he said it is essential to improve debt data transparency and accuracy to prevent future debt crises,”.

Finance Minister Shunichi Suzuki also acknowledged the higher risks faced by low- and middle-income nations concerning debt vulnerabilities amid the COVID-19 pandemic and Russia’s invasion of Ukraine.