Debt restructuring: SL seeks phone dialogue with Chinese President

6 February 2023 09:43 am Views - {{hitsCtrl.values.hits}} 5 Bookmark

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China has assured that it will offer a two-year moratorium on debts offered to Sri Lanka through EXIM Bank

By Kelum Bandara

The government has sought a telephone conversation between President Ranil Wickremesinghe and Chinese President

Xi Jinping to discuss debt restructuring and the future of bilateral relations, an informed source said .

China , India and Japan are the largest bilateral creditors to Sri Lanka . Their assurances are key to unlock the US $ 2.9 billion programme with the International Monetary Fund (IMF). China has assured that it will offer a two-year moratorium on debts offered to Sri Lanka through EXIM Bank. However , the United States Under Secretary of State Victoria Nuland who visited Sri Lanka said India gave positive assurance but what China offered was not enough to meet the IMF debt sustainability criteria . Chinese Foreign Ministry spokesperson Mao Ning hit out at the US Under Secretary’s comments saying they do not reflect the truth.

She asked the United States to “show some sincerity and actually do something to help Sri Lanka weather through the current difficulties” rather than “jabbing fingers at China’s close cooperation with Sri Lanka.” “As a friendly neighbour and true friend, China has been closely following the difficulties and challenges facing Sri Lanka and providing assistance for the island’s economic and social development to the best of China’s capabilities,,” she said.

Comments - 5

US should give 5 billion loan instead of make us beg IMF Monday, 06 February 2023 09:54 AM

Sri Lanka is trying to use USA to bully China. No point as this sudden want to dialog will be seen for what it is. Western influence benefit the west. The West has hardly given any loans. They can without IMF give 5 billion loan. Why USA just complain instead of just give 5 billion loan directly.

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Better forget IMF and get new loans direct and only from China Monday, 06 February 2023 10:14 AM

Us chasing after IMF loan is making life too hard for people. If we can get loan of China for same, and then better we just pay off our loans to China and ignore our other creditors. Those other creditors do not want to take any haircut, and who would, so now waste of time trying to satisfy IMF.

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Nimal Monday, 06 February 2023 10:47 AM

The problem is that there are too many 'know-it-alls' in Sri Lanka!

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European Monday, 06 February 2023 12:06 PM

I admire your innocent, ignorant, childish and trustfull spirit. But please get informed first before writing such idiotic comment.

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GHT Tuesday, 07 February 2023 01:01 AM

China's contribution is more than 7 billion dollars, so, CHINA has done its maximum effort to help Sri Lanka positively up to now, Instead, the IMF part, they, for mere 2.9 Billion Dollars promise, have never done anything to improve our economy, but they remain committed to created a DEFECTO STATE within United Sri Lanka. Therefore, if we need to save our country from deteriorating by the US involvement, we must keep the US away from our internal issues.

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