After India, China Gives Financing Assurances To Sri Lanka For IMF Bailout Package

39

Colombo: China has given debt-ridden Sri Lanka the financing assurances required by the IMF to unlock a USD 2.9 billion bailout package for the country, days after India strongly backed the island nation’s efforts to secure the loan from the global lender to recover from its worst-ever economic crisis.

The Sunday Times newspaper reported that China’s Exim Bank delivered a letter on Saturday granting Sri Lanka a two-year moratorium on repayment and agreeing with the International Monetary Fund’s extended fund facility (EFF).

The report was confirmed by Sri Lankan officials who did not want to be named.

Comments are closed.

Breaking