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.

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.