IMF caught off guard as China strikes debt deal with Sri Lanka
Wednesday, 11 October 2023 China has reached a tentative debt agreement with Sri Lanka, catching other creditors by surprise. The Export-Import Bank of China has reached a preliminary agreement, although details of the deal have not been disclosed. The International Monetary Fund (IMF) and other creditors were expected to hold talks on a debt restructuring plan without China's participation. China accounts for 52% of Sri Lanka's bilateral debt.
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Sri Lanka plans to use the second tranche of the IMF bailout deal to settle arrears with multilateral creditors and accelerate the debt restructuring process.... IndiaTimes
Sri Lankan President Ranil Wickremesinghe will visit China next week to discuss debt restructuring talks with the country's biggest lender. Wickremesinghe, who... IndiaTimes
Wednesday, 11 October 2023
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