Tag: Sri Lanka debt
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Sri Lankan President to Meet With Xi During First Visit to China
Sri Lankan President Anura Kumara Dissanayake will kick off a four-day visit to China on Tuesday, his first there since coming to power last November. Dissanayake is scheduled to meet with his Chinese counterpart Xi Jinping and will likely hold talks with officials from the China Exim Bank, ...
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IMF Caught Unawares by China’s Sri Lankan Debt Deal
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 ...
Glimmers of Debt Deal for Sri Lanka Raises China Pressure
Sri Lanka’s major creditors, including India, Japan, and France, are nearing a debt deal by mid-October, according to the Japanese newspaper Sankei Shinbun. However, there are serious questions as to whether China (one of Sri Lanka’s largest bilateral creditors) will be part of the deal. ...
A Debt Deal for Sri Lanka Without China?
Some members of Sri Lanka’s creditor committee are reportedly promoting an agreement to restructure the bankrupt country’s debt without China. According to a report by Bloomberg, the United States, Japan and India are pushing for a deal with Sri Lanka ...
Sri Lanka Gets Relief from World Bank as FM Walks a Careful China Line
The World Bank announced $700 million in budgetary and welfare support to Sri Lanka on Thursday. The news comes as Sri Lanka’s Foreign Minister Ali Sabry met with China’s Finance Minister Liu Kun and Exim Bank chair Wu Fulin to discuss China’s central role in his country’s debt restructuring. ...
File image of a worker cleaning solar panels installed on the roof of the traditional Gedhe market in Klaten, Central Java. China’s $180 billion clean tech push is reshaping the Global South, with Indonesia a key test of who controls new green industries. (Photo: DEVI RAHMAN / AFP)
By Cobus van Staden, CGSP Head of Research Remember “no blood for oil”? Decades ago, the slogan emblematized opposition to the U.S. invasion of Iraq. Its logic subsequently shifted as the United States experienced a gas and oil revolution thanks to fracking.
Sri Lankan President to Meet With Xi During First Visit to China
Sri Lankan President Anura Kumara Dissanayake will kick off a four-day visit to China on Tuesday, his first there since coming to power last November. Dissanayake is scheduled to meet with his Chinese counterpart Xi Jinping and will likely hold talks with officials from the China Exim Bank, ...
IMF Caught Unawares by China’s Sri Lankan Debt Deal
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 ...
Glimmers of Debt Deal for Sri Lanka Raises China Pressure
Sri Lanka’s major creditors, including India, Japan, and France, are nearing a debt deal by mid-October, according to the Japanese newspaper Sankei Shinbun. However, there are serious questions as to whether China (one of Sri Lanka’s largest bilateral creditors) will be part of the deal. ...
A Debt Deal for Sri Lanka Without China?
Some members of Sri Lanka’s creditor committee are reportedly promoting an agreement to restructure the bankrupt country’s debt without China. According to a report by Bloomberg, the United States, Japan and India are pushing for a deal with Sri Lanka ...
Sri Lanka Gets Relief from World Bank as FM Walks a Careful China Line
The World Bank announced $700 million in budgetary and welfare support to Sri Lanka on Thursday. The news comes as Sri Lanka’s Foreign Minister Ali Sabry met with China’s Finance Minister Liu Kun and Exim Bank chair Wu Fulin to discuss China’s central role in his country’s debt restructuring. ...
Ghana Gets Debt Breakthrough
The executive board of the International Monetary Fund (IMF) on Wednesday approved a $3 billion debt bailout deal for Ghana. The debt-distressed country will receive an immediate payment of $600 million. The announcement is a win for China, which co-chaired the official creditor ...
After Months of Delay, China Finally Begins Debt Restructuring Talks With Sri Lanka
Sri Lankan President Ranil Wickremesinghe informed the country's parliament late last week that China had finally agreed to begin long-desired debt restructuring talks. During a recent visit to Tokyo, President Wickremesinghe also called on Japan, Sri Lanka's other main creditor in addition to China and ...
What is China’s Real Role in Sri Lanka’s Debt Crisis?
Few debt crises have triggered as much disinformation as Sri Lanka’s. The country is currently grappling with a complex debt restructuring process amid its worst economic crisis since independence. The role of Chinese debt has drawn much attention and many false narratives - not least the allegation that Hambantota Port was ...
Sri Lanka’s Debt Nightmare Kicks Off Familiar Narratives Abroad
"We have lost the ability to repay foreign debt." This was the message from Sri Lanka’s newly appointed Central Bank Governor Nandalal Weerasinghe to journalists on Tuesday. The announcement could signal a wave of defaults across the Global South and makes Sri Lanka the newest front in a war ...