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India’s External Affairs Minister Heads to Sri Lanka After China Sends Positive Signals on Debt Deal

by Eric Olander
File image of India's External Affairs Minister S. Jaishankar who is expected to arrive in Colombo on Thursday to discuss Sri Lanka's debt restrucutring process. MAXIM SHIPENKOV / POOL / AFP

The Sri Lankan government is now on the verge of closing a deal to secure a $2.9 billion emergency financial package from the International Monetary Fund following new assurances from its two largest bilateral creditors, India and China.

Colombo got the desperately needed backing this week from both Asian powers, following carefully choreographed diplomacy that includes a four-day visit by China’s International Department Vice Minister Chen Zhou that ends on Wednesday, a day before Indian External Affairs Minister S. Jaishankar is expected to arrive in Colombo for talks.

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