BEIJING : The Export-Import Bank of China reached a preliminary agreement with Sri Lanka last month on the disposal of China-related debts, China's Foreign Ministry announced on Tuesday, as the island sought debt relief from its biggest bilateral lender.
"In late September, China EXIM Bank, as an official creditor, reached a preliminary agreement with Sri Lanka on the disposal of China-related debts," Wang Wenbin, a ministry spokesperson, said without adding details. As of June 2022, China accounted for over 21 per cent of Sri Lanka's total outstanding debt, or $8.5 billion, according to researchers at Johns Hopkins China-Africa Research Initiative, much of that owed to policy banks like EXIM.
It was not clear if the IMF would need more details from Sri Lanka's creditors to pass the review and release the next tranche of funding.
Source: Loan Digest (loandigest.net)
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