IMF Caught Unawares by China’s Sri Lankan Debt Deal

IMF Senior Mission Chief Peter Breuer during a news conference in September. Image: AFP

The Chinese Foreign Ministry’s brief announcement on Tuesday that China Exim Bank reached a debt deal with Sri Lanka surprised IMF officials – another indication of how fractured the bankrupt country’s debt restructuring process has become.

Peter Breuer, the IMF’s Mission Chief in Sri Lanka, said that while the fund was aware of talks with creditors, “we have not yet been informed about any specific agreements.” 

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by Cobus van Staden

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