SL debt restructuring US expects China to provide credible, specific assurance

By Kelum Bandara  

US Under Secretary of State for Political Affairs Victoria Nuland said her country expects China, as the largest bilateral creditor to Sri Lanka, to provide specific and credible assurance in meeting the standards of the International Monetary Fund (IMF) for debt restructuring of Sri Lanka.  

Making remarks to the press after wrapping up her single day visit to the country ahead of the 75th Independence Day celebrations, she said what China had offered is not enough. She said India had extended credible assurances at the moment.  

Referring to her meeting with President Ranil Wickremesinghe, she said it happened at a critical time when the Sri Lankan government is working with the IMF and other creditors to stabilize the economy. She also stressed that this is the time for Sri Lanka to strengthen democracy and restore dialogue for national reconciliation.  

She added that it includes proceeding with the local elections due in March and repealing the Prevention of Terrorism Act to meet international standards.  

Ms.Nuland also announced the additional grant of US $ 30 million to provide lunch to 96,000 children in 850 schools, and the donation of 770 tonnes of fortified rice and vegetable oil.  
The visiting US official also met with the representatives of the minority parties and Central Bank Governor Nandalal Weerasinghe.