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Stalled Power Projects
The visiting Japanese Finance Minister Suzuki Shunichi on Friday expressed hope that the ongoing debt restructuring in cash-strapped Sri Lanka could be finalised soon for Japan to resume its stalled projects in the island nation. Shunichi, who is on a two-day visit, met President Ranil Wickremesinghe and emphasised the value of transparent and comparable debt restructuring. The bilateral relationship was under stress for a period with Sri Lanka's unilateral cancellation of a Japanese-funded project in 2020. He (Shunichi) has assured that the recent suspension of Yen loans due to Sri Lanka's debt crisis could be reversed pending the conclusion of an MoU at the Official Creditor Committee (OCC) and continued debt sustainability monitored by the IMF, a statement from the President's office said. The President expressed profound appreciation for Japan's lead role in addressing Sri Lanka's debt issues. The talks encompassed future collaborations, emphasising areas such as information ...