Long Awaited Debt Restructuring Talks Between China and Sri Lanka Get Underway

Sri Lanka's President Ranil Wickremesinghe attends the 156th Sri Lanka Police Day celebrations in Colombo on September 3, 2022. Ishara S. KODIKARA / AFP

Sri Lankan President Ranil Wickremesinghe confirmed that after months of inaction, debt restructuring talks with China have finally begun. 

The President said in a statement on Sunday that he personally spoke with Chinese Finance Minister Liu Kun on the issue and that a delegation sent to Washington, D.C. last week to participate in the IMF/World Bank’s annual meetings also held discussions with Colombo’s three largest bilateral creditors that includes China as well as India and Japan.

  • Get a daily email packed with the latest China-Africa news and analysis.
  • Read exclusive insights on the key trends shaping China-Africa relations.
  • Full access to the News Feed that provides daily updates on Chinese engagement in Africa and throughout the Global South.

China, Africa and the Global South... find out what’s happening.

Subscribe today for unlimited access.

OR

Already a subscriber? Log in Click Here to Learn More
by Eric Olander

Most Read

1
Developing Countries’ Debt Servicing Costs to China Are Significant, but Nowhere Near as Much as Other Creditors
2 Chinese Military Fans Discuss Why Indonesia Bought Rafale Instead of J-10C
3
Chinese Cargo Planes Secretly Ferrying Supplies to Iran, Claim Online Sleuths
4
Indonesia Goes Nuclear, Taps China and Russia for Modular Reactors
5 Trump’s Contradictory Iran Strategy Leaves U.S. Weaker After War’s End, Says Chinese Commentator
6
Thailand in Last-Minute U.S. Talks as 36% Tariff Looms

You Might Like

What is China’s Real Role in Sri Lanka’s Debt Crisis?

Few debt crises have triggered as much disinformation as Sri Lanka’s. The country is currently grappling with a complex debt restructuring process amid its worst economic crisis since independence. The role of Chinese debt has drawn much ...

China Piled On Debt As Sri Lanka Sank: WSJ

The Wall Street Journal has published a highly critical account of China’s involvement in Sri Lanka’s debt crisis. It quotes current and former Sri Lankan officials claiming that China discouraged them from seeking ...

Sri Lanka Calls On Same Financial Advisory Firm That Worked With Zambia on Debt Restructuring

The Sri Lankan government hired the boutique Paris-based financial advisory firm Lazard to negotiate on its behalf with bilateral creditors in China, Japan, and India, among others. If that firm sounds familiar, it’s because it’s the ...

After Months of Delay, China Finally Begins Debt Restructuring Talks With Sri Lanka

Sri Lankan President Ranil Wickremesinghe informed the country’s parliament late last week that China had finally agreed to begin long-desired debt restructuring talks. During a recent visit to Tokyo, President Wickremesinghe ...

What is The China-Global South Project?

Independent

The China-Global South Project is passionately independent, non-partisan and does not advocate for any country, company or culture.

News

A carefully curated selection of the day’s most important China-Global South stories. Updated 24 hours a day by human editors. No bots, no algorithms.

Analysis

Diverse, often unconventional insights from scholars, analysts, journalists and a variety of stakeholders in the China-Global South discourse.

Networking

A unique professional network of China-Africa scholars, analysts, journalists and other practioners from around the world.

More about CGSP