Announcing this, Peter Breuer, Senior Mission Chief for Sri Lanka also said that the debt restructuring with China was concluded on a strictly confidential basis for the International Monetary Fund (IMF) to conclude its first review of the USD 2.9 billion bailout.
China holds 52 per cent of Sri Lanka's total debt.
"The Chinese agreement in principle was very good news in Sri Lanka's debt restructuring talks. We have seen a summary of the key financial terms of the agreement shared by authorities on a strictly confidential basis," Breuer told reporters on Tuesday.
The IMF late Tuesday concluded the review and approved the release of the second tranche worth USD 337 million to the island nation, bringing the value of disbursements to USD 670 million in the four-year facility.
This story is from the December 14, 2023 edition of The Daily Guardian.
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This story is from the December 14, 2023 edition of The Daily Guardian.
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