WEEK IN REVIEW: More Details About Sri Lanka’s Economic Recovery Program Is Emerging

Arun SANKAR / AFP

More details about Sri Lanka’s economic recovery program is emerging as the country struggles to restructure its debt, about a fifth of which is owed to China. The country’s Foreign Minister, Ali Sabry told Reuters his government is expecting as much as $5 billion in loans next year from multilateral agencies in addition to its deal with the IMF deal. The government is also aiming to raise up to $3 billion via restructuring of state assets. (REUTERS)

Iran is angry with China for seemingly siding with the United Arab Emirates over the status of three disputed islands in the Persian Gulf. The Foreign Ministry on Saturday summoned ambassador Chang Hua to express its “strong dissatisfaction” about the language used in the joint statement published at the conclusion of the China-Gulf Cooperation Council summit on Friday. Iran says the status of the islands is not up for negotiation. (ANADOLU AGENCY)

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by Eric Olander

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