The G 7 countries, Group of Seven economic powers are considering to provide debt relief for Sri Lanka, G7 finance chiefs said on Yesterday (19) in a draft communique from a meeting held in Germany, Reuters reports.
G7 countries ,Canada, France, Germany, Italy, Japan, United Kingdom and the United States said in their statement they were committed to finding long-term solutions for the Indian Ocean nation and urged it to “negotiate constructively” with the International Monetary Fund on a potential loan programme.
“The G7 stands ready to support the Paris Club’s efforts, in line with its principles, to address the need for a debt treatment for Sri Lanka,” they said, referring to the group of mostly rich creditor nations.
G7 finance chiefs also singled out China, which has become a major creditor to low-income countries, to actively contribute to debt relief for such countries Te Reuter report further states.
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