Economics

China Exim Bank Becomes First to Restructure Sri Lanka’s Debt

  • September 10, 2024

Sri Lanka has successfully restructured defaulted loans and past due interest owed to the Export Import Bank of China, transforming them into $4.187 billion in new loans, according to the Finance Ministry’s June 2024 debt bulletin. In March 2024, Sri Lanka owed $3.993 billion to the Exim Bank of China, including $903.8 million in arrears.

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Finance

Sri Lanka Achieves Milestone in Debt Restructuring with IMF Support

  • June 28, 2024

The International Monetary Fund (IMF) announced that it welcomes Sri Lanka’s finalization of debt restructuring agreements with major creditor nations, marking a significant step towards restoring debt sustainability. According to IMF’s Senior Mission Chief in Sri Lanka, Peter Breuer, the agreements reached with China and other creditor nations to restructure approximately $10 billion in bilateral

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