It also emphasised the need to ensure transparency and comparability in agreements with creditors outside the Official Creditor Committee (OCC), according to a statement dated Friday.

Japan, along with France and India, co-chair the committee of 15 creditor nations. The South Asian island nation is trying to restructure deals with creditors after soaring inflation, currency depreciation and low foreign reserves sent its economy into free fall, forcing it to default on foreign debt in May 2022.

Sri Lanka and its creditors said in November they reached an agreement in principle on debt restructuring that would cover approximately $5.9 billion of outstanding public debt and consisted of a mix of long-term maturity extension and reduction in interest rates.