Sri Lanka expects financing assurances from China for IMF deal within days

Published by
Reuters

By Uditha Jayasinghe COLOMBO (Reuters) -Sri Lanka expects to get China’s backing for its debt restructuring plan within days to help unlock a $2.9 billion loan from the International Monetary Fund, a government official said on Friday, as India pledged further support to its crisis-stricken southern neighbour. The island nation of 22 million people has grappled with challenges during the past year ranging from a shortage of foreign currency to runaway inflation and a steep recession – the worst such crisis since independence from Britain in 1948. Sri Lanka is racing to secure a bailout from th…

Read More

Leave a Reply