China’s Exim Bank agrees to debt restructuring – State Minister

Finance State Minister Ranjith Siyambalapitiya said yesterday that China’s Exim Bank has agreed to the restructuring of the country’s foreign debt. He said China, the main bilateral lender of our country, has expressed initial agreement for the restructuring of Sri Lanka’s foreign debt.

He emphasized that China Exim Bank has announced this in a press release. Further commenting, the State Minister said Sri Lanka had to pay US$46 billion to foreign countries in the form of loans at the time of the economic crisis. Even though our country has been continuously repaying the multilateral loans, the bilateral loans have to be repaid, where the main lender was China. Accordingly, the decision taken by the Chinese Exim Bank is very important for the economy of our country as well as for all matters related to it, he stated.

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