1st Meeting of Sri Lanka Creditors Held

REUTERS/Dinuka Liyanawatte
Members of the military lower the Sri Lankan national flag in the evening at Galle Face Green in Colombo October 19, 2011.

TOKYO (Jiji Press) — Japan and other creditors to Sri Lanka on Tuesday held their first meeting on debt restructuring for the South Asian country effectively in default.

The online meeting, co-chaired by Japan, India, France and others, brought together 26 countries including 19 creditors. China, the biggest creditor to Sri Lanka, was present as an observer.

The group of Sri Lanka creditors, established last month, is a multinational framework involving emerging economies, whose influence over the global economy is increasing.

China has shown reluctance to disclose details of its loans to Sri Lanka, such as amounts and lending terms.