Shehan Semasinghe China Japan India Sri Lanka information Provident Assurant Shehan Semasinghe China Japan India Sri Lanka

SL successfully concludes second round of talks with creditors: Shehan Semasinghe

Reading now: 140
www.newsfirst.lk

COLOMBO (News 1st) – State Minister of Finance Shehan Semasinghe said Sri Lanka's second round of discussions with creditors concluded successfully.He added that legal advisers, financial advisers and major creditors including China, India and Japan joined the discussions.Several reforms were made since March, in order to obtain IMF assistance, and restructure the country's debt.The State Minister added that Sri Lanka has agreed to deal with all creditors in a transparent manner.The Central Bank of Sri Lanka and the Ministry of Finance have communicated that they will work with the creditors to provide them with the necessary information and clarifications.The State Finance Minister said that the IMF Board of Directors will grant its approval, as soon as Sri Lanka obtains assurance from its creditors, and these discussions are vital for the process.Sri Lanka expects to receive assistance from the IMF by the end of 2022..

Read more on newsfirst.lk
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

Kristalina Georgieva - David Malpass - IMF’s Georgieva to press for quicker action on debt relief with China - newsfirst.lk - China - city Beijing
newsfirst.lk
92%
261
IMF’s Georgieva to press for quicker action on debt relief with China
(Reuters) – International Monetary Fund Managing Director Kristalina Georgieva said on Thursday that she will travel to Beijing next week with heads of other international institutions to press for quicker action on debt relief for poor and developing countries.The meetings with the country's leadership will focus on China's economic, COVID-19 and debt relief policies and will include officials from China Development Bank and the Export-Import Bank of China, the IMF said."This is the first time, hopefully, we will be able to sit together and discuss the very pressing issues that China, and the world are faced with," Georgieva told the Reuters NEXT conference.Georgieva said that during the Beijing meetings she intends to discuss ways to accelerate China's participation in debt relief for poor and developing countries as the world's largest official bilateral creditor."I am very hopeful that when we have a chance next week to discuss these issues, we will continue on a path of finding better solutions and strengthening the capacity of the common framework to deliver," she said, referring to G20 countries' slow-to-launch common debt restructuring framework.World Bank President David Malpass told the conference that he would join the discussions in Beijing, along with officials from the World Trade Organization, Organization for Economic Cooperation and Development and others.Georgieva and Malpass have both called for reforms of the common framework to offer heavily indebted countries a freeze in debt service payments when they apply for debt relief and clearer timelines for reaching agreement on debt treatments.Asked if China's slowing growth would limit its appetite for agreeing to debt reductions, Georgieva said she hoped
DMCA