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US expects Sri Lanka’s debt treatment to be finalised soon
16 Jul, 2023
The United States (US) expects Sri Lanka’s debt treatment to be finalised soon.
US Treasury Secretary Janet Yellen said that the United States will seek to increase financial assistance for war-torn Ukraine and push for debt restructuring during a G20 Finance meeting in India.
Yellen said that debt treatments for Ghana and Sri Lanka will be discussed and completed quickly.
Yellen was speaking to reporters in the western Indian city of Gandhinagar on the eve of the G20 meeting.
Sri Lanka and Ghana defaulted on their international debts last year, roughly two years after Zambia defaulted. And more than half of all low-income countries face debt distress, which hurts their long-term ability to function and develop.
Yellen also expressed her willingness to collaborate with China on mutual interests, including debt restructuring for emerging economies and other global challenges.
Her remarks come after a high-stakes China visit to ease tensions between the two nations. During the visit, Yellen emphasized the importance of both countries working together to address global challenges. (Colombo Gazette / Agencies)
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