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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.

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