NEW DELH/COLOMBO : The Export-Import Bank of China has offered Sri Lanka a two-year moratorium on its debt and said it will support the country's efforts to secure a $2.9 billion loan from the International Monetary Fund, according to a letter reviewed by Reuters.
Regional rivals China and India are the biggest bilateral lenders to Sri Lanka, a country of 22 million people that is facing its worst economic crisis in seven decades. At the end of 2020, China EXIM bank had loaned Sri Lanka $2.83 billion which is 3.5 per cent of the island's debt, according to an IMF report released in March last year.
"Meanwhile, we would like to expedite the negotiation process with your side regarding medium and long-term debt treatment in this window period."
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