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.
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India wrote to the IMF earlier this month, saying it would commit to supporting Sri Lanka with financing and debt relief, but the island nation also needs the backing of China in order to reach a final agreement with the global lender.
China’s Jan. 19 letter, sent to the finance ministry, however, may not be enough for Sri Lanka to immediately gain the IMF’s approval for the critical loan, a Sri Lankan source wi…
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