IMF pushes Sri Lanka to clinch debt deal with China

Colombo (AFP) Mar 21, 2024

Sri Lanka must speed up debt restructuring with key bilateral lender China and other creditors to sustain a recovery from its worst economic crisis, the International Monetary Fund said Thursday. Sri Lanka defaulted on its $46 billion external debt in April 2022 after the country ran out of foreign exchange to finance even essential imports such as food, fuel and medicine. Months of prot