China assures commitment towards Sri Lanka’s debt restructuring process

The spokesman for the Ministry of Foreign Affairs of the People’s Republic of China Wang Wenbin has reaffirmed their commitment towards Sri Lanka’s debt restructuring process.

Speaking at a regular press conference held today (April 13), Wang Wenbin assured that they will continue to support Chinese financial institutions in actively working out the debt treatment.

In response to a question raised pertaining to the ‘new platform’ due to be announced by Japan, France and India for creditors to coordinate restructuring of Sri Lanka’s foreign debt, Wenbin said, “We will work with relevant countries and international financial institutions to jointly play a positive role in helping Sri Lanka navigate the situation, ease its debt burden and achieve sustainable development. At the same time, we call on commercial and multilateral creditors to take part in Sri Lanka’s debt restructuring based on fair burden-sharing”.

Japanese Finance Minister Shunichi Suzuki yesterday (April 12) explained that Japan, France and India would announce a new platform for creditors to coordinate restructuring of Sri Lanka’s debt, adding that it would be ‘very nice’ if China were to join the effort.