KOENIGSWINTER in Germany (Reuters) – The Group of Seven financial powers supports debt relief efforts in Sri Lanka, G7 finance heads said Thursday, in a draft communique, at a meeting held in Germany following the default of Sri Lanka on its sovereign debt.

“The G7 stands ready to support the Paris Club’s efforts, in line with its principles, to address the need for a debt treatment for Sri Lanka,” the draft statement to be finalised before the end the meeting on Friday said.

The G7 finance chiefs also cited China as a significant creditor for low-income countries to help with debt relief.