Follow CGSP on Social Media

Listen to the CGSP Podcast

China Sticking to Its Position That Multilateral Banks and Bondholders Must Also Take Losses on Sri Lankan Debt

Chinese Foreign Ministry Spokesperson Wang Wenbin restated Beijing's position on debt relief for Sri Lanka at the regular press briefing on February 15, 2023. Image via the Ministry of Foreign Affairs.

The Chinese government re-stated on Wednesday that it will not move forward with the Sri Lankan debt restructuring process unless both commercial creditors and multilateral development banks also agree to accept losses on their loans.

Ministry officials told Reuters that Spokesperson Wang Wenbin’s statement at yesterday’s press briefing in Beijing will be the last word on the issue until after a series of G20 meetings on the debt crisis. The first is scheduled for Friday.

  • 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.

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.