The Ministry of Finance said that China, as Sri Lanka’s main bilateral creditor, has reached a preliminary agreement regarding the restructuring of the loans given to the country.
The Ministry of Finance indicated that the Ministry of Finance has recently reached an initial agreement with the Export-Import Bank of China as the official creditor regarding the main policies and conditions related to the debt restructuring of the country.
The Ministry of Finance stated that this agreement would cover about US$ 4 billion of the debt owed to the bank. Due to this agreement, Sri Lanka can achieve debt sustainability.
Chinese Foreign Affairs Ministry Spokesperson Wang Wenbin said in a recent press conference that Sri Lanka and the China Export-Import Bank reached a preliminary agreement at the end of last September regarding the Chinese debt in this country.
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