COLOMBO, Jan 20 — Sri Lanka expects to get China's backing for its debt restructuring plan within days to help unlock a US$2.9 billion loan from the International Monetary Fund, a government official said today, as India pledged further support to its crisis-stricken southern neighbour.
India has already told the IMF it strongly supports Sri Lanka's debt restructuring plan and China, the island's largest bilateral lender, is the last major creditor that has yet to agree to the deal. India has also told Sri Lanka it is committed to boosting investment in its debt-ridden neighbour, Foreign Minister Subrahmanyam Jaishankar said on Friday during a visit.
Sri Lanka owes about US$1 billion to India that will come under the purview of the debt restructuring deal. New Delhi has provided the island nation another US$4 billion in rapid assistance since early last year.
Sri Lanka should just be next state under 🇨🇳 more easy cuz the debts ur previous leaders borrowed can’t be paid of in 10 or 20 years