Lazard in talks with India, China and Japan on restructuring crisis-hit Sri Lanka’s debt Colombo: Financial advisory group Lazard has begun talks with countries like India, Japan and China to initiate Sri Lanka’s debt restructuring process, a Sri Lankan government spokesperson said Tuesday, amidst the crisis-hit island nation’s worst economic crisis in decades. In May, Sri Lanka hired Lazard and Clifford Chance, a consortium of international lawyers to kick-start the restructuring of the country’s debt. Earlier this month, the IMF announced that it will provide Sri Lanka with a loan of about USD 2.9 billion over four years under a preliminary agreement to help the bankrupt island nation tide over its worst economic crisis and protect the livelihoods of the people. However, for the deal to go through, the country will require debt relief from its three main creditors, namely India, China and Japan. Together, they hold about USD 13 billion of Sri Lanka’s debt, with China being Sri Lanka’s largest bilateral creditor. “They are in the process of speaking to India, China, Japan, mainly to ensure we come to some sort of consensus”, the Daily Mirror Lanka newspaper quoted acting cabinet spokesperson Ramesh Pathirana as saying, while referring to Lazard. “We will keep our fingers crossed that we will be able to come to an agreement,” he added.