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IMF, India, WB to chair Sovereign Debt Roundtable

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(Reuters) – Officials from China, India, Saudi Arabia and Group of Seven nations will participate in a first virtual meeting of a new sovereign debt roundtable on Friday, the International Monetary Fund said on Monday, confirming an earlier Reuters report.The roundtable will also include officials from countries that have requested debt treatments under the Group of 20 common framework – Ethiopia, Zambia and Ghana – as well as middle-income countries such as Sri Lanka, Suriname and Ecuador, which have faced their own debt crises, three sources had earlier said.The meeting will be co-chaired by the IMF, the World Bank and India, the current leader of the Group of 20, and comes a week before G20 finance officials are due to gather in Bengaluru, India, from Feb.

23-25. An in-person meeting of the roundtable expected on Feb. 25 and a formal launch is planned at the IMF-World Bank spring meetings in April.Brazil, which will lead the G20 next year, is also taking part, one of the sources said.An IMF spokesperson confirmed the first roundtable meeting would take place on Friday, and said more details would be released in the near future."The objective is to bring together key stakeholders involved in sovereign debt restructuring, from traditional creditors from advanced economies, to new creditors like China, Saudi Arabia, India, as well as the private sector and debt countries to address the current shortcomings," they said.The roundtable will include the Paris Club of official creditors and private sector participants – the Institute of International Finance (IIF), the International Capital Markets Association and two private-sector financial institutions that have asked not to be identified, one of the sources said.Creation.

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Dinesh Gunawardena - JICA to resume projects after IMF deal is finalized - newsfirst.lk - Japan - Usa - Sri Lanka
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JICA to resume projects after IMF deal is finalized
COLOMBO (News 1st); JICA is set to resume its ongoing projects in Sri Lanka no sooner the IMF package on debt restructuring finalized, said the Prime Minister's Media Division.Prime Minister Dinesh Gunawardena urged the Japan International Cooperation Agency (JICA) to recommence all the ongoing projects that are temporarily halted due to fiscal issues.He made this request when Director General of the South Asia Department of the Japan International Cooperation Agency (JICA), Teruyuki Ito met him on Monday (20).Teruyuki Ito assured the Prime Minister that JICA projects would be resumed no sooner the debt restructuring programme is finalized by the International Monetary Fund.12 JAICA projects worth US$ 2.5 billion have been temporarily halted due to the fiscal crisis. The JICA delegation had expressed satisfaction over the progress in debt restructuring plans, in which Japan also played a major role.The Prime Minister thanked JICA Director General for the continuous assistance provided to Sri Lanka for several decades for water treatment, sewerage, sanitation and solid waste treatment projects in several cities and towns. He also requested JICA to provide assistance in new areas such as renewable energy and electrification of public transport and railways.Prime Minister Gunawardena also briefed the JICA delegation about the steps taken to improve transparency and accountability in project implementation by enacting required legislations as recommended by the Committee appointed by the President. He added that a Budget Act would be passed to ensure continuation of nationally important projects and policies despite change of governments in power.
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