Follow CGSP on Social Media

Listen to the CGSP Podcast

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

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.

  • 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?


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.