Friday, 03 November 2023 08:44

China continues to Sri Lanka navigate debt situation Featured

China says it will continue to support Chinese financial institutions in actively consulting with Sri Lanka.

Foreign Ministry Spokesperson Wang Wenbin speaking at the Regular Press Conference said that China will continue maintaining friendly communication with other creditors and jointly play a positive role in helping Sri Lanka navigate the situation, ease its debt burden and achieve sustainable development.

He told reporters that, as an official creditor, the Export-Import Bank of China tentatively agreed with Sri Lanka on the debt treatment, and the Sri Lankan side has released relevant information.

he Government announced that it has reached an agreement on the key principles and indicative terms of a debt treatment with the Export-Import Bank of China (“China Exim bank”).

The agreement in principle covers approximately USD 4.2bn of outstanding debt. It constitutes a key step towards restoring Sri Lanka’s long-term debt sustainability and will pave the way to a prompt economic recovery.

World News

Latest World News

There are 35787 listings and 1273 categories in our website