Portuguese President Marcelo Rebelo de Sousa had called for Lisbon to find ways to compensate its former colonies, including canceling debt. The government says it has not initiated any process to that effect.

Lisbon is not planning to pay reparations for trans-Atlantic slavery and colonialism, Portugal’s government said on Saturday.

The statement comes in response to remarks by President Marcelo Rebelo de Sousa, who said Portugal could find ways to compensate its former colonies.

Portugal said in a statement that it seeks to “deepen mutual relations, respect for historical truth and increasingly intense and close cooperation, based on reconciliation of brotherly peoples.”

It stressed that it had not launched any “process or program of specific actions” for paying reparations.