Oct 11 (Reuters) – Sri Lanka, mired in its worst economic crisis in decades, is in debt restructuring talks with a range of bilateral creditors, including China, its largest single creditor.
The island nation of 22 million suffered its first foreign debt default in May 2022. In March, Sri Lanka secured a nearly $3 billion bailout from the International Monetary Fund that could help it emerge from the crisis.
China said this week that the Export-Import Bank of China had reached a preliminary deal with the country on the disposal of China-related debts, but did not share details.
WHAT HAS HAPPENED SO FAR
As part of the terms of the IMF bailout, Sri Lanka has to secure assurances of debt restructuring from bondholders and key bilateral lenders …
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