{"id":129026,"date":"2022-10-06T16:24:10","date_gmt":"2022-10-06T23:24:10","guid":{"rendered":"https:\/\/www.lankaweb.com\/news\/items\/?p=129026"},"modified":"2022-10-06T16:24:10","modified_gmt":"2022-10-06T23:24:10","slug":"sri-lanka-begins-debt-restructuring-talks-with-china","status":"publish","type":"post","link":"https:\/\/www.lankaweb.com\/news\/items\/2022\/10\/06\/sri-lanka-begins-debt-restructuring-talks-with-china\/","title":{"rendered":"Sri Lanka begins debt restructuring talks with China"},"content":{"rendered":"<h2><span style=\"color: #0000ff;\"><em>Courtesy Borneo Bulletin\u00a0<\/em><\/span><\/h2>\n\n\n<p>COLOMBO, SRI LANKA (AP) \u2013 Sri Lanka\u2019s president said yesterday his government has started debt restructuring discussions with China, an important step toward finalising an International Monetary Fund (IMF) rescue of the island nation from its worst economic crisis.<\/p>\n\n\n\n<p>President Ranil Wickremesinghe told Parliament yesterday that the initial talks will continue after China\u2019s Communist Party congress meeting that begins on October 16.<\/p>\n\n\n\n<p>Wickremesinghe, who recently returned from a trip to Japan, also said the Japanese authorities agreed to mediate the talks with China.<\/p>\n\n\n\n<p>China has been supporting us from ancient times and we believe they will do the same in these difficult times,\u201d Wickremesinghe said.<\/p>\n\n\n\n<p>Sri Lanka is nearly bankrupt and has suspended repaying its USD51 billion foreign debt, of which it must repay USD28 billion by 2027.<\/p>\n\n\n\n<p>Sri Lanka has reached a preliminary agreement with the IMF for a USD2.9 billion rescue package over four years. Finalisation of the rescue hinges on assurances from Sri Lanka\u2019s creditors on debt restructuring.<\/p>\n\n\n\n<p>China is not Sri Lanka\u2019s biggest creditor. It has a share of about 10 per cent of Sri Lanka\u2019s loans after Japan and the Asian Development Bank.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Courtesy Borneo Bulletin\u00a0 COLOMBO, SRI LANKA (AP) \u2013 Sri Lanka\u2019s president said yesterday his government has started debt restructuring discussions with China, an important step toward finalising an International Monetary Fund (IMF) rescue of the island nation from its worst economic crisis. President Ranil Wickremesinghe told Parliament yesterday that the initial talks will continue after [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"","sticky":true,"template":"","format":"standard","meta":{"footnotes":""},"categories":[193],"tags":[],"class_list":["post-129026","post","type-post","status-publish","format-standard","hentry","category-imf-bailout-package"],"_links":{"self":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/129026","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/comments?post=129026"}],"version-history":[{"count":0,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/129026\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/media?parent=129026"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/categories?post=129026"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/tags?post=129026"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}