Signage for the Central Bank of Sri Lanka in Colombo, Sri Lanka.
Kuni Takahashi | Bloomberg | Getty Images
The Export-Import Bank of China has offered Sri Lanka a two-year moratorium on its debt and said it would 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.
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 wi…
Read the full article at: https://www.cnbc.com/2023/01/25/china-offers-sri-lanka-a-2-year-debt-moratorium.html