Dissanayake in Beijing: Why Sri Lanka must look harder at what it’s signing on with China
6 hours, 23 minutes ago

Dissanayake in Beijing: Why Sri Lanka must look harder at what it’s signing on with China

Firstpost  

As Sri Lankan President Dissanayake meets Xi Jinping in Beijing, a look at China’s economic grip on Sri Lanka’s economic sovereignty, and the goodwill that India has shown towards its southern neighbour during financial hardship and political turmoil When Sri Lankan President Anura Kumara Dissanayake meets his host, Chinese President Xi Jinping, at the Great Hall of the People in Beijing on Wednesday, he may be captivated by the charm of Chinese hospitality. This contrasting position of China with its aggressive economic tactics against India’s culturally rooted, strategic approach carries critical implications for Sri Lanka’s sovereignty and the stability of the broader region. Unlike China’s high-interest loans linked to large infrastructure projects, India’s aid focused on immediate relief directly addressing the urgent needs of the Sri Lankan people. China’s financial support and focus on big infrastructure projects have made it a strong partner, but the risk of too much debt has led Sri Lanka to look for other options.

India China Sri Lanka Financial Economic Debt Port Projects Chinese Beijing Lanka Sri Dissanayake Sri Lankan Colombo Port City  sri  debt  lankas  economic  look  chinas  india  dissanayake  lanka  beijing  financial  signing  china  projects  port  harder

History of this topic

Is Global Times' India swipe a sign of China's unease in South Asia?
4 weeks ago

Is Global Times' India swipe a sign of China's unease in South Asia?

Firstpost  

The Global Times critique of India portrays China’s unease as New Delhi deepens ties with its South Asian neighbours India’s National Security Adviser Ajit Doval met with Chinese Foreign Minister Wang Yi in Beijing on Wednesday to discuss key issues including maintaining peace along the Line of Actual Control and restoring frozen bilateral ties. Shifting regional dynamics India’s handling of …

DC Edit | India, Sri Lanka head to a win-win relationship
4 weeks ago

DC Edit | India, Sri Lanka head to a win-win relationship

Deccan Chronicle  

All the signs are pointing to the possibility of a major win for India’s foreign policy as the meeting between Sri Lankan President Anura Kumara Dissanayake and Prime Minister Narendra Modi went off swimmingly. The swivel away from China and a new direction in restoring old civilisational ties with India may have come not only because of the leadership change …

When Colombo comes calling
4 weeks ago

When Colombo comes calling

Hindustan Times  

It is significant that Sri Lankan President Anura Kumara Dissanayake used his first meeting with Prime Minister Narendra Modi to convey an assurance that his government will not allow Sri Lankan soil to be used against Indian interests. Dissanayake also conveyed Sri Lanka’s appreciation for the economic aid worth nearly $4 billion that was provided by India during the unprecedented …

Sri Lanka’s new president reassures Modi over Chinese ships
4 weeks, 1 day ago

Sri Lanka’s new president reassures Modi over Chinese ships

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Sri Lankan president Anura Kumara …

Sri Lanka's President plans to visit China after his first overseas trip to India: Official
1 month, 2 weeks ago

Sri Lanka's President plans to visit China after his first overseas trip to India: Official

India TV News  

Colombo: Sri Lankan President Anura Kumara Dissanayake plans to visit China following his proposed official trip to India, Cabinet spokesman Nalinda Jayathissa said on Tuesday. On behalf of Prime Minister Narendra Modi, Minister Jaishankar had extended an invitation to President Dissanayake to undertake a visit to India at a mutually convenient date, according to a local media report. The Chinese …

BRI was born out of myth, will end up being a myth too: Is this the beginning of the end of Chinese century?
1 month, 4 weeks ago

BRI was born out of myth, will end up being a myth too: Is this the beginning of the end of Chinese century?

Firstpost  

Today, as the Chinese economy is losing steam, its real estate is in a mess, and the BRI is faltering, Beijing is in a desperate situation, with many China watchers, including Bertil Lintner, hinting at the end of the Chinese century With the BRI, touted by Xi Jinping as the “project of the century”, the Chinese President believed he would …

India-China Border Deal: A Long-Overdue Resolution
2 months, 3 weeks ago

India-China Border Deal: A Long-Overdue Resolution

News 18  

Prime Minister Narendra Modi and Chinese Premier Xi Jinping will hold first bilateral talks in five years on Wednesday on the sidelines of the 16th BRICS Summit in Russia. Both countries reached an agreement to resume border patrolling operations along LAC following the disengagement process along the disputed areas.

India’s foreign minister becomes the first such dignitary to visit Sri Lanka since the election
3 months, 1 week ago

India’s foreign minister becomes the first such dignitary to visit Sri Lanka since the election

Associated Press  

COLOMBO, Sri Lanka — India’s Foreign Minister S. Jaishankar met Sri Lanka’s newly elected President Anura Kumara Dissanayake Friday in the first such visit of a dignitary since a new government took office in the island nation last month, amid questions over how Dissanayake would balance between regional powers China and India. At the same time, China’s support to restructure …

A new chapter in India-Sri Lanka relations
3 months, 3 weeks ago

A new chapter in India-Sri Lanka relations

Hindustan Times  

The Anura Kumara Dissanayake’s victory and ascension to the presidency marks a significant shift in Sri Lanka’s political landscape, with effects on its relations with India. Prime Minister Narendra Modi extended his congratulations to President Dissanayake on his electoral victory, highlighting Sri Lanka's vital role in India's Neighbourhood First policy and the Security and Growth for All in the Region …

Xi says wants to deepen BRI cooperation with Sri Lanka under new leader
3 months, 3 weeks ago

Xi says wants to deepen BRI cooperation with Sri Lanka under new leader

The Hindu  

Chinese President Xi Jinping on Monday said he hoped to broaden cooperation with Sri Lanka under his Belt and Road infrastructure initiative as he congratulated the island nation's new leader Anura Kumara Dissanayake. "I attach great importance to the development of China-Sri Lanka relations and am willing to work with Mr. President to continue our traditional friendship enhance mutual political …

India’s China challenge: The stakes are higher than ever before
4 months, 1 week ago

India’s China challenge: The stakes are higher than ever before

Firstpost  

There is hardly any clarity on what China wants — whether Beijing aims to amicably settle the boundary issues and make further progress in trade and cultural ties or if it seeks to encroach on India’s territory On April 10, 2024, amidst the high-pitched and polarising campaign for the upcoming national elections in India, Prime Minister Narendra Modi gave a …

India-Sri Lanka road link to further strengthen trade ties, says expert
4 months, 2 weeks ago

India-Sri Lanka road link to further strengthen trade ties, says expert

The Hindu  

Establishing a road link between India and Sri Lanka will go a long way in further strengthening the trade ties between the two nations, said K. Amirthalingam, senior professor of Economics at University of Colombo, Sri Lanka. Speaking at the national conference on ‘International Economic Relations: The Sustainable Development Challenges’ organised jointly by Sri Padmavati Mahila Viswa Vidyalayam Department of …

Sri Lanka inks pacts with OCC, China to restructure debt
6 months, 2 weeks ago

Sri Lanka inks pacts with OCC, China to restructure debt

Hindustan Times  

New Delhi: Sri Lanka on Wednesday signed separate debt restructuring agreements with the Official Creditors Committee, a group co-chaired by India, and China’s Exim Bank, with New Delhi saying it will continue supporting Colombo’s economic recovery through long-term investments. The Official Creditors Committee is co-chaired by India After the International Monetary Fund’s approval of an extended fund facility for Sri …

Sri Lanka seals debt deal with Official Creditor Committee after financial crisis
6 months, 2 weeks ago

Sri Lanka seals debt deal with Official Creditor Committee after financial crisis

The Hindu  

In what it termed a significant milestone, Sri Lanka on Wednesday sealed a deal with the Official Creditor Committee, to restructure the debt owed to its bilateral lenders including India, and signed a separate agreement with China for debt treatment. “Sri Lanka reached a final restructuring agreement for $5.8 billion of debt with its bilateral lenders’ Official Creditor Committee in …

'Procedural issues' delaying Sri Lanka debt deal: IMF
7 months ago

'Procedural issues' delaying Sri Lanka debt deal: IMF

The Hindu  

Sri Lanka's planned foreign debt restructure after an unprecedented economic crisis has been delayed by "procedural issues" in negotiations with bilateral creditors including China, the International Monetary Fund said on June 14. The Washington-based lender of last resort this week gave Sri Lanka the latest tranche of a rescue package designed to help repair the island nation's ruined finances after …

Debt owed by Pakistan, Sri Lanka and Bangladesh to China rise to record levels: Data
8 months ago

Debt owed by Pakistan, Sri Lanka and Bangladesh to China rise to record levels: Data

The Hindu  

Debt owed by various countries, especially in South Asia and Africa, to China has multiplied in recent years. In comparison, the low-and-middle-income countries’ total debt owed to the International Bank for Reconstruction and Development, a global development cooperative owned by 189 nations, was just a little higher at $223 billion. As seen in Chart 1, Pakistan’s total external debt stocks …

China, Sri Lanka forging stronger bonds
9 months, 1 week ago

China, Sri Lanka forging stronger bonds

China Daily  

Premier Li Qiang meets with Sri Lankan Prime Minister Dinesh Gunawardena on March 26 at the Great Hall of the People in Beijing. More recently, Sri Lanka's Prime Minister Dinesh Gunawardena, paid a six-day visit to China, from March 25-30. Gunawardena highlighted the opportunities available for investment in Sri Lanka, including in the Colombo Port City and Hambantota Industrial Zone, …

Shame on India for its coercion of Sri Lanka: China Daily editorial
11 months, 1 week ago

Shame on India for its coercion of Sri Lanka: China Daily editorial

China Daily  

Some Indian media outlets seemed irrepressible when they reported "India beats China in diplomatic duel" earlier this week, referring to an Indian Navy submarine visiting Colombo, capital of Sri Lanka, on the weekend, shortly after the island country suspended its reception of Chinese research ships under New Delhi's pressure. To begin with, New Delhi has been smearing China's marine research …

China agrees to consider restructuring repayment of loans, says Maldives President Muizzu
1 year ago

China agrees to consider restructuring repayment of loans, says Maldives President Muizzu

Firstpost  

Maldives President Mohamed Muizzu said on Saturday that China, the largest external creditor to the country, has agreed to consider restructuring the repayment of loans taken by his country and the governments will initiate negotiations soon. Muizzu told the media in Male after his return from a five-day high-profile state visit to China that he has directly appealed to Chinese …

Maldives President praises China's BRI project amid diplomatic row with India
1 year ago

Maldives President praises China's BRI project amid diplomatic row with India

Firstpost  

Speaking at an event in Fuzhou, Maldives President Mohammed Muizzu praised China’s Belt and Road Initiative and pushed for Chinese investment in his nation, even as a diplomatic crisis with India simmered beneath the surface. Speaking at the Fuzhou event, Muizzu lauded the Belt and Road Initiative, a massive infrastructure project aimed at connecting East Asia and Europe and expanding …

China turns the tables on Wall Street
1 year, 1 month ago

China turns the tables on Wall Street

Live Mint  

China is upending how the international financial system handles debt crises in the developing world. China expects bondholders to take greater losses than official creditors and for multilateral banks to forgo some of what they were owed—a reversal of the Paris Club norm, people familiar with the matter said. “The onus was on the Paris Club members that had experience …

China keen on extending China-Myanmar Economic Corridor to Sri Lanka
1 year, 1 month ago

China keen on extending China-Myanmar Economic Corridor to Sri Lanka

The Hindu  

China is “prioritising” the extension of the China-Myanmar Economic Corridor to Sri Lanka, the country’s Special Envoy told President Ranil Wickremesinghe on Monday, in an indication that China is looking to scale up the Belt and Road Initiative project in South Asia. Paying a courtesy call on the Sri Lankan President, Special envoy of the Chinese President, state councillor Shen …

Sri Lanka allows Chinese research ship to dock as India's security concerns grow
1 year, 2 months ago

Sri Lanka allows Chinese research ship to dock as India's security concerns grow

The Hindu  

A Chinese research ship docked at a Sri Lankan port on October 25, likely adding to neighbouring India's concerns about China’s growing influence in the Indian Ocean. But Sri Lanka’s economic collapse last year provided an opportunity for India as New Delhi stepped in with massive financial and material assistance. Two weeks ago, Sri Lanka reached an agreement with Export-Import …

Sri Lanka allows a Chinese research ship to dock as neighboring India’s security concerns grow
1 year, 2 months ago

Sri Lanka allows a Chinese research ship to dock as neighboring India’s security concerns grow

Associated Press  

COLOMBO, Sri Lanka — A Chinese research ship docked at a Sri Lankan port on Wednesday, likely adding to neighboring India’s concerns about China’s growing influence in the Indian Ocean. China has been trying to expand its influence in Sri Lanka, which is located on one of the world’s busiest shipping routes in what India considers part of its strategic …

No ‘political strings attached’ to China’s support for Sri Lanka: Xi tells Ranil
1 year, 2 months ago

No ‘political strings attached’ to China’s support for Sri Lanka: Xi tells Ranil

The Hindu  

China will continue to assist Sri Lanka without any “political strings attached” and help the country cope with difficulties, President Xi Jinping told his Sri Lankan counterpart Ranil Wickremesinghe on Friday, according to an official statement, even as Colombo attempts to finalise a debt treatment plan with its creditors, including the Asian giant. Noting that Sri Lanka was among the …

India disses China over BRI again, counters campaign in Maldives over assistance
1 year, 2 months ago

India disses China over BRI again, counters campaign in Maldives over assistance

Hindustan Times  

NEW DELHI: India on Thursday reiterated its opposition to China’s Belt and Road Initiative against the backdrop of Maldives’ president-elect Mohamed Muizzu highlighting the role of Beijing’s flagship infrastructure programme in the development of participating countries. MEA spokesperson Arindam Bagchi said that unlike in the past, India had not been invited by China to this year’s Belt and Road Forum …

Sri Lanka says it has reached an agreement with China’s EXIM Bank on debt, clearing IMF funding snag
1 year, 3 months ago

Sri Lanka says it has reached an agreement with China’s EXIM Bank on debt, clearing IMF funding snag

Associated Press  

COLOMBO, Sri Lanka — Sri Lanka says it has reached an agreement with the Exim Bank of China on key terms and principles for restructuring its debt, a key step toward unlocking a second instalment of a $2.9 billion package from International Monetary Fund aimed at rescuing the island nation from a dire economic crisis. The finance ministry said in …

Sri Lanka confirms major debt deal with China
1 year, 3 months ago

Sri Lanka confirms major debt deal with China

The Hindu  

The Sri Lankan government has confirmed that it has concluded a preliminary deal with China on the restructuring of its debts to Beijing, seen as a "big step" in the cash-strapped country's economic recovery. China holds about 52% of Sri Lanka’s $46 billion external credit.” The agreement in principle covers approximately $4.2 billion of outstanding debt, it said adding that …

Bankrupt Sri Lanka gets China’s tentative agreement on debt restructure
1 year, 3 months ago

Bankrupt Sri Lanka gets China’s tentative agreement on debt restructure

The Hindu  

Sri Lanka on October 11 welcomed China's tentative agreement to a debt restructure, as the island nation works to restore its ruined finances after suffering its worst-ever economic crisis. The government defaulted on its $46 billion debt last year at a time when months of food and fuel shortages were making life a misery for Sri Lanka's 22 million people. …

US expresses concern to Sri Lanka over China's research ship visit: Report
1 year, 3 months ago

US expresses concern to Sri Lanka over China's research ship visit: Report

India Today  

The US has expressed concern to Sri Lanka about the likely visit of a Chinese research ship next month that could also cause worries in India, which in the past has raised security concerns over docking by China's spy vessels, according to a media report. US Under Secretary Victoria Nuland, who met Sri Lankan Foreign Minister Ali Sabry in New …

AidData Report Warns of a Chinese Naval Base in Sri Lanka’s Hambantota Port
1 year, 3 months ago

AidData Report Warns of a Chinese Naval Base in Sri Lanka’s Hambantota Port

The Diplomat  

A recent report by AidData, a research lab at the College of William and Mary in Williamsburg, Virginia, claimed that China might establish a naval base in Sri Lanka’s Hambantota Port in the next two to five years. The AidData report, titled “Harboring Global Ambitions: China’s Ports Footprint and Implications for Future Overseas Naval Bases,” identified eight locations where China …

Confusion over Sri Lanka granting permission to Chinese survey vessel in October
1 year, 4 months ago

Confusion over Sri Lanka granting permission to Chinese survey vessel in October

Hindustan Times  

Confusion prevails in Sri Lanka over granting permission to Chinese Research vessel Shi Yan 6 to conduct ocean survey off the island nation in October after New Delhi raised its serious concerns with the Ranil Wickremesinghe government. India has officially raised concerns to Sri Lanka for allowing a free run to Chinese survey, surveillance and ballistic missile trackers ships at …

China's Compulsions for LAC De-Escalation: ​India’s Infra to International Pressure
1 year, 4 months ago

China's Compulsions for LAC De-Escalation: ​India’s Infra to International Pressure

News 18  

As Prime Minister Narendra Modi on Thursday held talks with China’s President Xi Jinping on the sidelines of the BRICS Summit in South Africa, amid a stand-off between the two countries in Ladakh, government sources listed exclusively for News18 the reasons forcing Beijing to de-escalate the situation at the Line of Actual Control. According to Foreign Secretary Vinay Mohan Kwatra, …

Sri Lanka ‘processing’ China's request for research ship docking that may raise security concerns in India
1 year, 4 months ago

Sri Lanka ‘processing’ China's request for research ship docking that may raise security concerns in India

The Hindu  

Sri Lanka is currently processing a request by China to allow a research ship to dock in the country, a foreign ministry spokesperson said on August 23, a year after a visit by a Chinese spy vessel to the Island nation raised security concerns in India. The Chinese research vessel 'SHI YAN 6' is expected to arrive in Sri Lanka …

China research ship requests Sri Lanka port call
1 year, 4 months ago

China research ship requests Sri Lanka port call

The Hindu  

China has requested permission for a research ship to dock in Sri Lanka, Colombo said on August 22, following a visit by a spacecraft-tracking vessel last year that sparked security concerns from India. Last year, India raised concerns over a Sri Lanka port call in Hambantota by Chinese research vessel Yuan Wang 5, which specialises in spacecraft tracking and which …

How China's absence in Sri Lanka's economic meltdown creates strategic opening for India
1 year, 4 months ago

How China's absence in Sri Lanka's economic meltdown creates strategic opening for India

Firstpost  

China, not quite an iron brother of Sri Lanka’s like Pakistan, surprisingly stayed in the wings during Colombo’s economic meltdown last year, creating strategic space for New Delhi. During Sri Lanka’s first sovereign default in April 2022, approaching IMF for bailout of $3 billion and the rescue efforts including debt treatment China preferred to stay out allowing India to take …

With one eye on China, Japan backs Sri Lanka as a partner in the Indo-Pacific
1 year, 5 months ago

With one eye on China, Japan backs Sri Lanka as a partner in the Indo-Pacific

Associated Press  

COLOMBO, Sri Lanka — Japan’s Foreign Minister Yoshimasa Hayashi said Saturday that Sri Lanka is a key partner in a Tokyo-led initiative aimed at building security and economic cooperation around the Indo-Pacific but also at countering an increasingly assertive China. Last year Sri Lanka, which owed $51 billion in foreign debt, became the first Asia-Pacific country since the late 1990s …

How India has revamped its approach to engage with Sri Lanka amid China's growing presence in the Indo-Pacific Region
1 year, 5 months ago

How India has revamped its approach to engage with Sri Lanka amid China's growing presence in the Indo-Pacific Region

Firstpost  

India’s accelerated overtures to Sri Lanka in the past few years are emblematic of its engagements in the wider Indo-Pacific Region Sri Lankan President Ranil Wickremesinghe’s visit to India on 20-21 July came at a time when the ties between the two neighbours have been in flux for the past few years. India’s strategic engagements with Sri Lanka gained traction …

India-China relations discussed in Jakarta
1 year, 6 months ago

India-China relations discussed in Jakarta

The Hindu  

In a reflection of continuing differences in how India and China view taking ties forward, Beijing’s top diplomat Wang Yi told External Affairs Minister S. Jaishankar in Jakarta that “specific issues” shouldn’t “define the overall relationship”. In Friday’s talks, which the Chinese Foreign Ministry said in a statement on Saturday had been held at India’s request, Mr. Jaishankar said both …

China to stay out of official creditors’ platform, but Sri Lanka ‘very confident’ of bilateral support
1 year, 6 months ago

China to stay out of official creditors’ platform, but Sri Lanka ‘very confident’ of bilateral support

The Hindu  

China “will not join” the official creditors’ platform negotiating a common debt treatment plan with Sri Lanka, but Colombo is “very confident” of Beijing’s bilateral support to the island’s economic recovery, Foreign Minister Ali Sabry said. In May this year, 17 countries that have extended loans to Sri Lanka formed an “official creditor committee”, co-chaired by India, Japan, and France, …

India Continues To Help Sri Lanka Stand Economically, But Colombo’s Love For Beijing Keeps Soaring
1 year, 6 months ago

India Continues To Help Sri Lanka Stand Economically, But Colombo’s Love For Beijing Keeps Soaring

ABP News  

The day was July 9, 2022 when the world witnessed unprecedented developments taking place in Indian Ocean island nation of Sri Lanka even as a large number of protestors stormed the President’s palace in Colombo that eventually led to an unceremonious escape of then President Gotabaya Rajapaksa to Maldives and then to Singapore. During a two-day visit to China, Sri …

Sri Lanka to restructure domestic debt amid challenges
1 year, 6 months ago

Sri Lanka to restructure domestic debt amid challenges

The Hindu  

Sri Lanka will shut down its banks and financial sector for five days beginning Thursday, ahead of an extraordinary weekend debate in Parliament on the government’s plan to restructure its domestic debt. In May, the IMF pointed to “tentative signs of improvement” in Sri Lanka, while underscoring the need for timely restructuring agreements with the island’s creditors ahead of the …

The View from India | A growing India-China divide in South Asia
1 year, 7 months ago

The View from India | A growing India-China divide in South Asia

The Hindu  

While the on-going Line of Actual Control crisis has remained at the focus of India-China relations, the downturn in ties between the neighbours extends to events beyond the border. Events last week underlined the jostling for influence in the region, as India hosted Nepal’s Prime Minister Pushpa Kamal Dahal Prachanda while a senior Chinese official who handles South Asia policy, …

Sri Lanka Burning: Mess of its Own Making or China's Years-long Plan Coming to Fruition?
1 year, 8 months ago

Sri Lanka Burning: Mess of its Own Making or China's Years-long Plan Coming to Fruition?

News 18  

Sri Lanka is going through a severe economic crisis, the likes of which only a few countries in the world have witnessed. The Hambantota International Port project was a politically motivated infrastructure project, which started in the home district of the Rajapaksa family that led Sri Lanka’s government from 2005-2014 and from 2019-2022. Debt restructuring and China’s role The only …

China left out of Sri Lanka debt talks amid angst over delays
1 year, 9 months ago

China left out of Sri Lanka debt talks amid angst over delays

Live Mint  

Sri Lanka and major creditors are set to formally launch talks to restructure the nation’s debt without China — its biggest bilateral lender — a signal of growing frustration with Beijing’s approach to debt woes in the developing world. Hanging over those wider talks have been concerns about China’s role in negotiations involving countries like Sri Lanka and Zambia, which …

China loans to Pak, Lanka and other nations worth $240bn in 2 decades: Report
1 year, 9 months ago

China loans to Pak, Lanka and other nations worth $240bn in 2 decades: Report

Hindustan Times  

China helped 22 developing countries which were at the risk of default over the past two decades, a report said. Beijing handout out $240 billion worth of bailout loans to nations which included Belt and Road Initiative countries such as Sri Lanka, Pakistan and Turkey that have received Chinese loans for infrastructure development, the study pointed out. "Beijing has targeted …

Nepal’s economic ties with China raise concerns about ‘debt trap diplomacy’
1 year, 9 months ago

Nepal’s economic ties with China raise concerns about ‘debt trap diplomacy’

Live Mint  

China's ambition to establish its dominance in the South Asian region has been a long-standing strategy. As per a report by the Nepalese daily Pardafas, China, which is rooted in the "Middle Kingdom" complex, is using tactics to achieve its objectives by trapping Nepal in a debt cycle. The recently inaugurated Pokhara International Airport was funded by a loan of …

The significance of India’s support - The Hindu
1 year, 10 months ago

The significance of India’s support - The Hindu

The Hindu  

“India had really come to our rescue, India had provided us a lifeline which allowed us to stay afloat during a very difficult time,” said Ali Sabry, Minister of Foreign Affairs of Sri Lanka. Multilateral support: G20 and BIMSTEC I sat down with Sri Lankan Foreign Minister MUM Ali Sabry, who was earlier the Finance Minister, for an interview and …

Sri Lanka leader says IMF deal imminent after China’s pledge
1 year, 10 months ago

Sri Lanka leader says IMF deal imminent after China’s pledge

Associated Press  

COLOMBO, Sri Lanka — Sri Lanka’s president said Tuesday that China has given crucial debt restructuring assurances that mean the bankrupt Indian Ocean nation could get its $2.9 billion bailout package approved soon. He said, however, that difficult economic reforms needed to be carried out as agreed with the IMF and Sri Lanka can’t afford to sidestep from them as …

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