China confirms offer of two-year moratorium on loan repayments to Sri Lanka
The government of China on Friday confirmed that a two-year moratorium is being offered to Sri Lanka on loan repayments as the island nation battles to restructure $51 billion in foreign debt amid the financial crisis. The loan was provided by China to Sri Lanka under the multibillion-dollar Belt and Road Initiative programme of Beijing aimed at increasing trade through the construction of ports and other infrastructure across Africa and Asia.
Sri Lanka Maithripala Sirisena International Monetary Fund Asian Development Bank Road Initiative Bankrupt Sri Lanka
Source: wionews.com