BEIJING, Nov 7 (Reuters) – The International Monetary Fund has not yet seen details of the debt deal between the Export-Import Bank (EXIM) of China and Sri Lanka, the fund’s First Deputy Managing Director Gita Gopinath told reporters in Beijing on Tuesday.
Sri Lanka, mired in its worst financial crisis in decades, has been trying reach restructuring deals with creditors since last autumn. It was forced to default on its foreign debt in May 2022 after its foreign exchange dwindled to record lows.
In October, Sri Lanka reached an agreement with China’s EXIM covering about $4.2 billion of outstanding debt. The deal will help the nation to get past the first review of an IMF programme and secure a second IMF tranche of about $334 million.
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BEIJING, Nov 7 (Reuters) – The International Monetary Fund has not yet seen details of the debt deal between the Export-Import Bank (EXIM) of China and Sri Lanka, the fund’s First Deputy Managing Director Gita Gopinath told reporters in Beijing on Tuesday.
Sri Lanka, mired in its worst financial crisis in decades, has been trying reach restructuring deals with creditors since last autumn. It was forced to default on its foreign debt in May 2022 after its foreign exchange dwindled to record lows.
In October, Sri Lanka reached an agreement with China’s EXIM covering about $4.2 billion of outstanding debt. The deal will help the nation to get past the first review of an IMF programme and secure a second IMF tranche of about $334 million.
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