Relations with Japan had broken down – PM
The Prime Minister, during a meeting today (2) with representatives from the Joint Chambers, explained that the Government was targeting US $5bn this year for repayments, plus a further US $1bn to bolster the country’s reserves.
He elaborated that discussions with the IMF are proceeding and he was hopeful that negotiations would conclude by the end of the month. The Prime Minister also explained to the representatives that debt restructuring has begun, following the appointment of financial and legal advisors.