China takes front seat to lead SL’s debt restructuring process
China has taken the front seat in Sri Lanka’s external debt restructuring process making a calculated move akin to a chessboard strategy, catching everyone off-guard, by entering a preliminary debt deal with the Sri Lanka authorities.
Indian External Affairs Minister S. Jaishankar said today that India has extended financing assurances to the IMF to clear the way for Sri Lanka to move forward because India felt strongly that Sri Lanka’s creditors must take proactive steps to facilitate its recovery.
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