China, Sri Lanka’s major bilateral creditor, has pledged assistance to address the nation’s substantial debt challenges. Sri Lanka faces restructuring $41 billion of external and domestic debt by September, in preparation for the IMF’s initial review of its $2.9 billion bailout. During a meeting, China’s Foreign Minister Wang Yi affirmed the two countries’ strategic partnership and China’s support for Sri Lanka. The IMF’s review is scheduled for September 11-19, with the organization’s mission heading to Colombo between September 14 and 27. Sri Lanka’s economic crisis last year triggered protests due to fuel, fertilizer, and commodity shortages.
China guarantees Sri Lanka of its assistance in tackling debt issues ahead of the IMF’s first inspection
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