Sri Lanka’s central bank urges and India to reduce its debts
Sri Lanka’s central bank has urged China and India to agree on a write of their loans as soon as possible. The crisis-hit Indian Ocean state Defaulted on its debt repayments and negotiated a $2.9bn bailout.
But the International Monetary Fund will not release the cash until china and India first agree to reduce Sri Lanka’s billions of dollars of debt.
The governor of Sri Lanka’s central bank told it was in the interest of all parties to act quickly.
P.Nandalal weerasinghe said.”The sooner they give us finance assurance the would be better for both as a creditor and as a debtor.”