Follow CGSP on Social Media

Listen to the CGSP Podcast

China’s Debt Relief Offer For Sri Lanka May Not Be Enough to Satisfy IMF, Say Insiders

File image of the exterior of the IMF headquarter building in Washington, D.C. MANDEL NGAN / AFP

Sri Lanka’s desperately-needed financial lifeline from the International Monetary Fund may be in jeopardy due to an insufficient debt restructuring offer from China, Colombo’s largest bilateral creditor.

The IMF is requiring that Sri Lanka first receive assurances from its largest bilateral creditors, namely China, India and Japan, to restructure its outstanding debt. While India and Japan both did so unconditionally, China last week came forward with a somewhat reduced offer that sources tell Sri Lanka’s Daily Mirror newspaper will not be enough to satisfy the IMF.

Lead the Conversation on China

Subscribe Today to Get Full Access to The China-Global South Project

Check Out Everything You'll Get With Your Subscription

The China-Global South Daily Brief delivered to your inbox at 6AM Washington time

Full access to exclusive news and analysis from editors based in the Global South

Transcripts of CGSP’s twice-weekly podcasts

Students and teachers with a valid .edu email address are eligible for a 50% discount off monthly or yearly subscriptions. Email us to receive a discount code.

What is The China-Global South Project?


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


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.


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


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