COLOMBO: India's foreign minister arrives in Colombo on Thursday following his country's backing of Sri Lanka for a US$2.9 billion International Monetary Fund loan, leaving China as the island's last remaining major creditor to agree to a debt restructuring plan.
But Sri Lanka requires the backing of both China and India - its biggest bilateral lenders - to reach a final agreement with the IMF on the loan that is essential to help the country of nearly 22 million peopleDuring his two-day visit, his third to Sri Lanka since 2021, minister Subrahmanyam Jaishankar will look to strengthen India's ties with its debt-ridden neighbour and sign several key deals.
Source: Loan Digest (loandigest.net)
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