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China backs Sri Lanka debt plan, sources say, paving way for IMF loan: Report
China has given assurances that it will support Sri Lanka’s debt restructuring, clearing the biggest hurdle for the South Asian nation to secure a $2.9 billion bailout from the International Monetary Fund.
Sri Lanka’s largest bilateral creditor gave written support for the debt restructuring via the Export-Import Bank of China on March 6, according to people familiar with the situation, who asked not to be identified as the information isn’t public. The letter meets the requirements of the IMF, the people said. (Bloomberg)
<p style="text-align: justify;">China has given assurances that it will support Sri Lanka’s debt restructuring, clearing the biggest hurdle for the South Asian nation to secure a $2.9 billion bailout from the International Monetary Fund.</p> <p style="text-align: justify;">Sri Lanka’s largest bilateral creditor gave written support for the debt restructuring via the Export-Import Bank of China on March 6, according to people familiar with the situation, who asked not to be identified as the information isn’t public. The letter meets the requirements of the IMF, the people said. <strong>(Bloomberg)</strong></p></p>
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