Sri Lanka signs debt treatment agreements with China Exim Bank

26 June 2024 06:02 pm Views - {{hitsCtrl.values.hits}} 3 Bookmark

A A A

Colombo, June 26 (Daily Mirror) - Sri Lanka has signed debt treatment agreements with China Exim Bank to restructure USD 4.2 billion of debt.

The agreements were signed in Beijing earlier today.

The restructuring framework, agreed upon in Colombo, Sri Lanka, is set to provide substantial debt relief for the island nation.

This move will enable Sri Lanka to reallocate funds previously earmarked for debt servicing to essential public services, offering a much-needed respite for the country's strained economy.

Comments - 3

Mahesh Wednesday, 26 June 2024 10:30 PM

It’s a beneficial for the EXIM Bank China, after all they provided reckless loans to MR government with commissions, employment for Chinese workers in SL, etc and if the country cannot pay, then they get nothing. So, it’s a no brainier situation both ways and nothing to celebrate and our future generations to pay more tax

0 17

SLEx Thursday, 27 June 2024 09:00 AM

You could say the same about Paris Club. No one is going to accept terms that are not beneficial to them. The whole point of negotiations is to come to a mutual understanding where both parties can reap the benefits of the restructure, while also ensuring either party does not collapse. "So, it’s a no brainier situation both ways and nothing to celebrate and our future generations to pay more tax". Nothing to celebrate? Maybe you want to go back to 2022 and be in fuel queues and without electricity? Its sad that people care about the person/party that made decisions rather than the progress made by the country as a whole from 2 years ago. Our people are very quick to forget. Explains our countries entire history.

0 0

Kevin Thursday, 27 June 2024 04:34 AM

So that's why the fireworks!

0 0

Add comment
Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.