China welcomes Sri Lanka recovery move
China has assured Sri Lanka of continuous support in debt restructuring as the island seeks to wrap up its default workout by the middle of the year.
The announcement came in a statement from Prime Minister Dinesh Gunawardena’s media office.
It said that Chinese Prime Minister Li Qiang assured Prime Minister Dinesh Gunawardena that China would continuously assist Sri Lanka’s debt restructuring process and help Sri Lanka develop its economy.
This came after a bilateral meeting in Beijing. Sri Lanka has already reached an in-principle deal on the bilateral debt from the Export-Import Bank of China.
Sri Lanka also has term loans from the China Development Bank.
These have been classified as commercial.
Sri Lanka is also starting negotiations with sovereign bondholders this week.
Aid airdrops into Gaza will continue, White House says