COLOMBO : The Export-Import Bank of China has told Sri Lanka it will not seek immediate repayment of debt for 2022 and 2023 and expedite negotiations on"medium- and long-term debt treatment" to finalise specifics in the coming months, according to a letter seen by Reuters.
Sri Lanka is facing its worst economic crisis in more than seven decades and a shortage of dollars has disrupted imports of essentials, though the situation has improved this year from last year when protesters ousted a president. "You will not have to repay the principal and interest due of the bank's loans during the above-mentioned period, so as to help relieve your short-term debt repayment pressure," the bank's vice president, Zhang Wencai, said in the letter.
Source: Healthcare Press (healthcarepress.net)
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