NDTV News has announced that within a few days after India officially announced that Sri Lanka, which is burdened by debt, will provide the necessary financial guarantees to obtain the loan amount of US$ 2.9 billion from the International Monetary Fund, China has also announced that it will provide financial guarantees.
NDTV news service has pointed out quoted sources as saying that China has given Sri Lanka a letter saying that it will suspend the repayment of Sri Lanka’s debt for two years and that it will provide the necessary financial guarantees for Sri Lanka to receive the extended loan amount of USD 2.9 billion from the International Monetary Fund.
The International Monetary Fund was informed in writing on the 16th that India will officially support Sri Lanka’s debt restructuring process.
NDTV news service pointed out that the Sri Lankan authorities stated that China has decided to freeze the debt that Sri Lanka has to pay to China in the short term and that China expects Sri Lankan creditors to come together to implement a medium and long-term plan. (Lankadeepa)
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