COLOMBO : The Export-Import Bank of China has told Sri Lanka it will not seek immediate repayment of debt for 2022 and 2023 and expedite negotiations on 'medium- and long-term debt treatment' to finalise specifics in the coming months, according to a letter seen by Reuters.The International Monetary Fund
COLOMBO : The Export-Import Bank of China has told Sri Lanka it will not seek immediate repayment of debt for 2022 and 2023 and expedite negotiations on"medium- and long-term debt treatment" to finalise specifics in the coming months, according to a letter seen by Reuters.
Sri Lanka is facing its worst economic crisis in more than seven decades and a shortage of dollars has disrupted imports of essentials, though the situation has improved this year from last year when protesters ousted a president. "You will not have to repay the principal and interest due of the bank's loans during the above-mentioned period, so as to help relieve your short-term debt repayment pressure," the bank's vice president, Zhang Wencai, said in the letter.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China said to back Sri Lanka debt plan, paving way for IMF loan -Bloomberg NewsChina has given assurances that it will support Sri Lanka's debt restructuring, clearing a hurdle for the country to secure an International Monetary Fund (IMF) bailout worth $2.9 billion, Bloomberg News reported on Tuesday, citing people familiar with the situation.
Read more »
Sri Lanka president says China has agreed to restructure loansCOLOMBO: Sri Lanka's president said on Tuesday (Mar 7) that China had agreed to restructure its loans to the bankrupt island nation, clearing the final obstacle to a long-awaited International Monetary Fund (IMF) bailout. An unprecedented economic crisis has seen Sri Lanka's 22 million people suffer acute
Read more »
Sri Lanka president says China agrees to restructure loans, paving the way for IMF bailoutThe bailout has been held up by debt negotiations with China, Sri Lanka's largest bilateral creditor. Read more at straitstimes.com.
Read more »
Sri Lanka says 'positive news' coming from IMF on $2.9 billion packageCOLOMBO : Sri Lanka is on the verge of getting 'very positive news' from the International Monetary Fund on a $2.9 billion programme for the country, a government minister said on Tuesday, while a senior source said it had also won debt restructuring support from China.Sri Lankan President Ranil Wickremes
Read more »
Sri Lanka bid to sweep New Zealand and reach WTC finalSri Lanka will look to strike an early blow against New Zealand in Christchurch this week and hope Australia can thwart India to keep the World Test Championship (WTC) race alive.With Australia already confirmed in the WTC final, Sri Lanka can join them by sweeping New Zealand in their two-test series if
Read more »