island nation aims to formally engage in debt negotiations with overseas creditors that include China, India and the Paris Club group of nations in May, after concluding a debt rework with holders of its domestic debt.
"Whether they are coming together or on a separate bilateral basis, we will have comparable debt treatment," Weerasinghe said on the sidelines of the World Bank and International Monetary Fund spring meetings in Washington. But is unclear whether a formal committee could secure a swift overhaul, as the platform has failed to speed up debt restructuring talks for common framework countries such as Zambia.Sri Lanka, caught in the worst financial crisis since independence from Britain in 1948 triggered by a severe shortage of dollars, has seen steep inflation, a currency plunge and its economy slide into recession.
When asked if the country would consider debt-for-nature swaps for all its overseas creditors, Weerasinghe said that"those are useful and relevant financial instruments," though the country's main goal is to complete the debt rework process"as soon as possible."