Japan pressed bankrupt Sri Lanka on Saturday to expedite its debt restructuring, including with its biggest creditor China. "I conveyed my expectations for further progress in the debt restructuring process," Hayashi told reporters after his one-day visit. China holds about 52 percent of Sri Lanka's bilateral credit, with Japan and India the next biggest lenders. All bilateral creditors except China have pledged to support a plan to delay repayments on loans. "For us now the important thing is this debt restructuring process will go as quickly as possible, as smoothly as possible," Okano said.

Source: Daily Nation July 29, 2023 12:42 UTC