Sri Lanka and India holds debt restructuring talks

ECONOMYNEXT – India has held talks with Sri Lanka on re-structuring its official debt, the Indian High Commission in Colombo said.

The first round of discussions were held on September 16.

“The discussions held in a cordial atmosphere symbolize India’s support to early conclusion and approval of a suitable IMF Programme for Sri Lanka, for which financing assurances from creditors to make Sri Lanka’s debt sustainable are required,” the statement said.

“India will continue to remain closely engaged with relevant Sri Lankan stakeholders.”

India has given around 4.0 billion US dollars in import credits, swaps and also support for the central bank through deferred payments.

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