Sri Lanka will engage with creditors on the principles of comparable treatment - President

COLOMBO (News 1st); Sri Lankan President Ranil Wickremesinghe on Friday (14) said that the government remains committed to continue to engage with all creditor nations and other stakeholders in a transparent manner based on the principles of comparable treatment.

He was speaking at the launch of the Debt Restructuring Negotiation Process on Sri Lanka by India, Japan, and France.

The President joined the session in Washington, DC virtually and thanked the government of Japan for organizing this crucial meeting together with the government of India and France.

"This marks the beginning of the coordinated efforts of official bilateral creditor nations to make swift progress to resolving Sri Lanka's debt stress," said.

President Wickremesinghe said that the IMF program was presented to the country's parliament for approval, and the government aims to introduce new legislations that would incorporate the main features of the IMF arrangement.

"We thank the authorities of Paris Club as well as non Paris club nations offering timely financing assurances that enabled the IMF for Sri Lanka's request for a fund supported comprehensive economic adjustment program," he added.

The President said that he hopes other bilateral and multilateral partners as well as commercial creditors will also join in providing assistance for Sri Lanka to successfully complete the debt restructuring process at the earliest.

"At this critical juncture of our economy, we rely on your swift continued and unwavering support to reemerge from this crisis and establish a solid foundation enabling us to uplift the socio-economic well-being of our population", concluded the President.