Sri Lanka reaches debt agreement with EXIM Bank of China.
BANKING AND CREDIT NEWS-October 11, 2023--Sri Lanka reaches debt agreement with EXIM Bank of China
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Global Banking News - 11 October 2023
The Export-Import Bank of China (EXIM Bank) has reached a preliminary agreement with Sri Lanka to close Chinese debts, according to Reuters.
Sri Lanka is trying to rework its foreign debt after suspending repayments in May last year. The nation had come under severe financial stress and had to seek assistance from international agencies to restructure its debts.
The nation needs to secure...
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