Sri Lanka President Ranil WeickRemesinghe revealed that China has agreed to reorganize Sri Lanka's debt, which means that the Sri Lankan government will soon get the rescue fund of the International Monetary Fund (IMF).Essence
According to Agence France -Presse, Victor Marinha said on Tuesday (March 7) that the state -owned Chinese import and export banks have issued letters to the International Monetary Fund Organization on Monday night,It shows that the bank is willing to reorganize Sri Lanka debt.
He predicts that the first amount of the first payments of the International Monetary Fund's commitment to US $ 2.9 billion (below, about S $ 3.927 billion) will be issued within this month.
Victormaxinha said: "We have done our job, I hope that the International Monetary Fund will do their job."
The International Monetary Fund OrganizationDirector Krishna Srinivasan also confirmed that Sri Lanka has now received financing guarantees from all major bilateral creditors.The approval of the rescue plan will also promote other creditors such as the World Bank and the Asian Development Bank to financing Sri Lanka.
He said that this arrangement will help Sri Lanka officially implement an ambitious reform plan to help Sri Lanka get rid of the current crisis.
Sri Lanka has fallen into an unprecedented economic crisis in recent years, causing the country's 22 million people to face serious food, fuel and drug shortage, as well as long -term power outages and out of control.
Sri Lanka owed a total of $ 46 billion in foreign debt in April last year, of which more than $ 14 billion was bilateral debt of foreign governments, and China held 52%.
In September last year, the Sri Lankan government and the International Monetary Fund reached an agreement to obtain a $ 2.9 billion rescue plan that Sri Lanka must get the "financial guarantee" of creditors.
Japan, India, and other creditor countries, known as the "Paris Club", have all guaranteed this year. Only China has no consent, resulting in this rescue plan has been put on hold.
