Country: Sri Lanka

U.S. Treasury Secretary Janet Yellen and Chinese Premier Li Qiang are both scheduled to attend the Summit for a New Global Financial Pact in Paris next week, where debt relief for the world's poorest countries is expected to be high on the agenda.

Just a few days after International Monetary Fund Managing Director Kristalina Georgieva said real progress is being made in unblocking the impasse between China and developing countries over debt relief, her counterpart at the World Bank, David Malpass, conveyed a very different message on Bloomberg Television. 

Sri Lanka's major bilateral creditors convened their first meeting on Tuesday, but the country's largest bilateral lender, China, was in the room but only as an observer. “If China decides to participate, we would welcome it,” Masato Kanda, Japan’s vice minister ...

There was a lot of excitement earlier this month at the IMF and World Bank's annual gathering in Washington, D.C. about rumors that the impasse between China and multilateral development banks (MDBs) had been resolved. That stalemate between the Chinese and ...

The head of China's central bank, Yi Gang, provided the clearest indication to date Beijing is willing to retreat from its demand that multilateral development banks (MDBs) also take write-downs on their loans to the world's poorest countries. Yi told participants at ...

Ajay Banga arrived in Beijing on Wednesday for the latest stop in his worldwide job interview to become the next president of the World Bank. Banga is scheduled to meet with Chinese Finance Minister Liu Kun, various leaders from the People's ...

International Monetary Fund Managing Director Kirstalina Georgieva will travel to China at the end of this week for a visit that will be closely watched by finance ministries throughout the Global South. The primary purpose of Georgieva's trip is to deliver keynote ...

There was a major breakthrough this week in China's months-long standoff with the World Bank, IMF and other multilateral creditors when Beijing agreed to fully back Sri Lanka's debt restructuring. The move now clears the way for Colombo to secure $2.9 ...

China’s commitment to supporting Sri Lanka’s debt restructuring in line with other bilateral creditors is a major step towards securing a rescue package from the International Monetary Fund. However, it’s still unclear how negotiations will proceed, as the country suffers from food and ...

After months of delays and obfuscation, the China Exim Bank suddenly and unexpectedly reversed course this week and agreed to fully support Colombo's debt restructuring plan. President Ranil Wickremesinghe broke the news on Tuesday when he told parliament that China Exim would ...