According to the news of Sri Lankan newspaper The Sunday Morning, in the letter sent from China, it has been said to support the debt restructuring for which this country has been trying for a long time. Quoting a government source from the Sri Lankan government, the newspaper wrote that the Sri Lankan government was expecting a positive attitude from China. But instead of China, India extended a helping hand and the country trapped in crisis heaved a sigh of relief. Sri Lankan government is a little disappointed about the letter received from China.
Still trying to keep up
Despite this disappointment, Sri Lanka has decided that it will continue to negotiate for debt restructuring. At the same time, he is expected to be well. If government sources are to be believed, the response received from China is opposite to the expectation. On the other hand, India has expressed its willingness to cooperate with the Paris Club in the restructuring of Sri Lankan debt. This desire of India is not shared with China. It has been proposed by the Paris Club that debt restructuring should be uniform for all creditors. Also, a similar offer should be made to private creditors. But it has been proposed to defer debt from bilateral creditors.
Efforts to convince China
Meanwhile, the IMF is in talks with China to restructure Sri Lanka’s debt and is trying to persuade the country. Recently, IMF chief Kristalina Georgieva has said that IMF wants to explain to China on this whole issue. He wants to tell China what else can happen for this. The Government of India sent an official letter to the IMF last week. In this letter, he expressed his support for the debt restructuring program.
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Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social cause and entrepreneurship is her forte.