Sri Lanka’s debt deal with China Exim Bank shared with Paris Club: report

Details of Sri Lanka’s agreement with China Exim Bank were shared with Paris Club creditors, raising expectation of a bilateral credit restructuring deal, a media report said.

Central Bank Governor Nandalal Weerasinghe was quoted by Bloomberg Newswires as saying that now that details were shared, he hoped the Paris Club would also come forward with their proposal, helping clear an IMF review before the end of the year.

Sri Lanka was awaiting China’s consent to reveal the details after an earlier ‘staff level’ style or ‘in principle’ agreement on restructuring debt.

Sri Lanka was in line to meet December IMF targets for reserves and central bank credit to government, he said.

Sri Lanka is still expecting the IMF program approval before the end of the year, he said.