China has given debt-ridden Sri Lanka the financing assurances required by the IMF to unlock a USD 2.9 billion bailout package for the country to secure the loan from the global lender to recover from its worst-ever economic crisis.
The Sunday Times newspaper reported that China’s Exim Bank delivered a letter on Saturday granting Sri Lanka a two-year moratorium on repayment and agreeing with the International Monetary Fund’s extended fund facility (EFF).
The report was confirmed by Sri Lankan officials who did not want to be named.
