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Sri Lankan President Ranil Wickremesinghe will visit China next week as the crisis-hit country makes progress on debt restructuring talks with its biggest lender, a source in his office told Reuters on Friday. Wickremesinghe took office in July last year, after a popular uprising, brought on by an economic meltdown, had forced his predecessor out of power. Wickremesinghe, who is also finance minister, has been leading Sri Lanka's push to manage its heavy debt and keep funds flowing from a $2.9 billion International Monetary Fund (IMF) programme.

Sri Lanka has reached an agreement with the Export-Import Bank of China to cover about $4.2 billion of the island nation's outstanding debt, its finance ministry said in a statement on Thursday. ... -October 12, 2023 at 01:26 am EDT - MarketScreener

By Uditha Jayasinghe, Jorgelina do Rosario and Leika Kihara COLOMBO/MARRAKECH (Reuters) - Sri Lanka said on Thursday it reached an agreement with the

BEIJING -The Export-Import Bank of China reached a preliminary agreement with Sri Lanka last month on the disposal of China-related debts, China's Foreign Ministry announced on Tuesday, as the island... -October 10, 2023 at 07:10 am EDT - MarketScreener

COLOMBO (Reuters) -Sri Lanka's central bank resumed interest rate cuts on Thursday to boost growth and as the government seeks to lift revenue and repair its balance sheets in a bid to secure continued financial support from the International Monetary Fund. The Central Bank of Sri Lanka (CBSL) lowered the standing deposit facility rate and the standing lending facility rate by 100 basis points each to 10% and 11%, respectively, it said in a statement. "The Board arrived at this decision following a careful analysis of the current and expected developments," the CBSL said in th...