China sees the ‘necessity of fair burden-sharing’

10 March 2023 04:32 am Views - {{hitsCtrl.values.hits}} 4 Bookmark

CHATURANGA PRADEEP SAMARAWICKRAMA Follow

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While confirming that the Export-Import Bank of China, as the official bilateral creditor, provided a financing support document to Sri Lanka, China on Wednesday reiterated that it sees the ‘necessity of fair burden-sharing’ when it comes to Sri Lanka’s debt restructuring.

“I would like to reiterate that China supports relevant financial institutions in having active consultations with Sri Lanka on debt treatment. In the meantime, we also see the necessity of fair burden-sharing and believe that both commercial and multilateral creditors should take part in Sri Lanka’s debt restructuring, Chinese Foreign Ministry Spokesperson Mao Ning’s said during the regular Press Conference on Wednesday.

She also said that China is ready to work with relevant countries and international financial institutions to “jointly play a positive role in helping Sri Lanka navigate the situation, ease its debt burden and achieve sustainable development.” (Sunil Jayasiri)

Comments - 4

Premalal Perera Friday, 10 March 2023 07:20 AM

After skimming the Sri Lankan economy with high interest loans for sub standard machinery by bribing the most powerful politicians and introducing unsolicited bidding, now that they cannot get back some portion of the loans, they are calling for burden sharing. Typical Chinese ingenuity.

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Punchi Friday, 10 March 2023 08:04 AM

Chinas strategy to encircle India has failed. Pakistan is in turmoil and its internal strife is going to dismember itself. It has recurring conflict on the borders with brother Afghan muslims. India has neutralized our paradise and its pro china inclinations. Just one project the proposed deepening of Palk Strait will render both Hambantota and Colombo ports substantially irrelevant and badly affect our income. The Indians have their people Kamala Harris vice president US in the White house and Rishi Sunak prime minister in UK. Every important world leader is visiting India. So sad for our big brother - close as teeth and lips - China and small brother Pakistan

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Kikazaru Friday, 10 March 2023 09:30 AM

This is not done yet and how does the clown say that the IMF bailout will be got by end March? This is also going to be painful to Sri Lanka banks and its customers. Interesting see have the rupee does after this.

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Naveendra thilak Friday, 10 March 2023 10:56 AM

Trade deficit between 2 countries enormous Sri Lanka got into not only loan trap butalso trading trap. China need to help SL in all possible ways

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