COLOMBO: India The International Monetary Fund was informed by the International Monetary Fund it Strongly supports Sri Lanka’s debt restructuring According to Reuters, the loan application from the global lender is for $2.9 billion.
“We hereby confirm our strong support for Sri Lanka’s prospective (loan) program and commit to supporting Sri Lanka with financing/debt relief consistent with restoring Sri Lanka’s public debt sustainability,” Rajat Kumar Mishra from the Indian finance Ministry spoke to The IMF Chief in a Jan. 16 letter
Sri Lanka China must be supported India To reach an agreement with The – the largest bilateral lender IMF The $2.9 billion loan is vital to lift the nation from the worst financial crisis it has faced in 70 years.
“The financing/debt relief provided by Export-Import Bank of India will be consistent with restoring debt sustainability under the IMF-supported program,” The official stated.
Sri Lanka must obtain prior financing assurances form creditors to ensure its heavy. debt You can put the burden on a viable path to increase public revenue, before the global lenders will release the funds. IMF He said.
This island nation believes it can secure support from the international community IMF In the first quarter 2023.
Sri Lanka owes India The total amount of $1 billion will be covered by the debt restructuring plan,” a source who is familiar with the subject told Reuters this week.
Separately, New Delhi Sri Lanka Between January and July 2013, there was $4 billion of rapid assistance, which included credit lines and a currency swap agreement.
Sri Lanka Chinese lenders owe $7.4 Billion – almost a fifth its external public debt debt According to the China Africa Research Initiative’s (CARI) calculations, this was at the end of the previous year.