The Embassy of Japan in Colombo has announced that Japanese Finance Minister Shunichi Suzuki is scheduled to pay an official visit to Sri Lanka from January 11 to 12, 2024, as part of a four-day tour aimed at strengthening Japan's relations with two Asian nations, Sri Lanka and Cambodia.

The visit holds significant importance for Sri Lanka, which is grappling with a severe economic crisis and is virtually in default. Minister Suzuki is expected to engage in crucial discussions with Sri Lankan President Ranil Wickremesinghe, focusing on debt restructuring measures for the country.

In November of the previous year, Sri Lanka and a consortium of creditors, spearheaded by Japan and other nations, reached a preliminary agreement to defer debt repayments and implement interest rate reductions. The forthcoming talks between Minister Suzuki and President Wickremesinghe aim to build upon this foundation, exploring viable strategies for addressing Sri Lanka's economic challenges and creating a sustainable path forward.