China offers Sri Lanka debt moratorium, IMF help still in doubt

NEW DELH/COLOMBO :The Export-Import Bank of China has offered Sri Lanka a two-year moratorium on its debt and said it will support the country's efforts to secure a $2.9 billion loan from the International Monetary Fund, according to a letter reviewed by Reuters.

Regional rivals China and India are the biggest bilateral lenders to Sri Lanka, a country of 22 million people that is facing its worst economic crisis in seven decades. "...you will not have to repay the principal and interest due of the bank's loans during the above-mentioned period," the letter said.

"The bank will support Sri Lanka in your application for the IMF Extended Fund Facility to help relieve the liquidity strain," the letter said.

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