Home » Sri Lanka President to Visit China as Debt Talks Progress
China Diplomacy Economy General News Government Sri Lanka

Sri Lanka President to Visit China as Debt Talks Progress

Berlin (3/11 – 40)

Sri Lankan President Ranil Wickremesinghe will visit China in the upcoming week as the crisis-hit country makes progress on debt restructuring talks with its biggest lender.

Wickremesinghe took office in July last year, after a popular uprising, brought on by an economic meltdown, had forced his predecessor out of power. His Oct. 15-19 visit to Beijing will be his first to China since then.

Sri Lankan President Ranil Wickremesinghe will visit China in the upcoming week as the crisis-hit country makes progress on debt restructuring talks with its biggest lender.

Wickremesinghe, who is also finance minister, has been leading Sri Lanka’s push to manage its heavy debt and keep funds flowing from a $2.9 billion International Monetary Fund (IMF) programme.

He will attend a Belt and Road Forum in Beijing that would mark the 10th anniversary of the initiative championed by China’s President Xi Jinping to develop global infrastructure and energy networks.
Wickremesinghe is expected to meet Xi on the sidelines of the forum, said the source who declined to be named as he was not authorised to speak with the media. The Sri Lankan leader intends to meet China’s finance and foreign ministers too.

Sri Lanka owes Chinese lenders – bilateral and commercial – around $7 billion. It reached an agreement with the Export-Import Bank of China on Thursday covering about $4.2 billion of outstanding debt but is still working with other key bilateral creditors including Japan and India on reaching a debt restructuring plan.

Sri Lanka defaulted on its foreign debt in May last year after its dollar reserves fell to a point where the island nation of 22 million people could no longer pay for essential imports like fuel and medicine.

Sri Lanka needs to reach agreements with creditors to push forward its first review of the IMF programme, which will release a second tranche of about $334 million. The first tranche was released in March.

The country has been a key receiver of loans under China’s Belt and Road infrastructure drive, helping it to build highways, a port, an airport and a coal power plant.

Source: The Colonial Chronicle

Instagram

Instagram has returned empty data. Please authorize your Instagram account in the plugin settings .

Advertisement

Advertisement Small

Flickr

  • Run, run, run, the bullet is close to you (ou la tentative d'assassinat sur un coureur de jupons)
  • Le crêpier
  • La déesse de l'Abondance
  • Ufer
  • Bridge
  • Ballhaus
  • Training
  • Immediate ceasefire
  • Bats rdv

ThemeForest

Collaboratively harness market-driven processes whereas resource-leveling internal or "organic" sources. Competently formulate.

Calendar

July 2024
M T W T F S S
1234567
891011121314
15161718192021
22232425262728
293031  

RSS Meks Blog

  • How Adding Slack Bot Boosted Our Culture of Appreciation July 3, 2024
    Sweet Kudos is a Slack bot that enhances employee recognition, rewards, and celebrations within your team. It empowers team members to express gratitude and appreciation effortlessly by giving virtual Kudos. The post How Adding Slack Bot Boosted Our Culture of Appreciation appeared first on Meks.
    Dusan Milovanovic
  • 10 Best Knowledge Base & Wiki WordPress Themes 2021 September 15, 2021
    Running a successful online business requires an exceptional WordPress knowledge base theme that organizes documentation and helps customers. Customization options, intuitive navigation, unique layouts, and fast responsiveness are just some of the features you need. The following 10 WordPress wiki themes represent the best options for 2021 and beyond. Explore the full range to determine […]
    Dusan Milovanovic
  • How to increase WordPress Memory Limit (quick fixes) June 16, 2021
    Here is a post about how to increase the memory limit in WordPress. Allowed memory size exhausted error message showed up in your WordPress installation? No worries – this is one of the most common errors in WordPress. You can apply an easy fix by increasing the memory limit in your PHP. Table of Contents […]
    Dusan Milovanovic
  • How to use (and why) WordPress sitemap plugin March 1, 2021
    Did you know that by knowing how to use the WordPress sitemap plugin you can significantly improve your site’s visibility and traffic? Although it isn’t mandatory to have a sitemap on your site, having one significantly improves the site’s quality, crawlability and indexing. All this is important for better optimization, which is why we wanted […]
    Ivana Cirkovic
  • 22 free and premium podcast software for your show [2021 edition] January 18, 2021
    You’re determined to start or improve your podcast but don’t know which podcast software to use to really make it stand out? We’ve got you! #podcasting Top 22 free and premium podcast software for your show #WordPressTips #podcasting The post 22 free and premium podcast software for your show [2021 edition] appeared first on Meks.
    Ivana Cirkovic
  • Digital storytelling with WordPress – an all-in-one guide to make your web stories pop! November 23, 2020
    Wondering how to improve digital storytelling with WordPress and build more awareness and exposure of your business? Let our guide lead the way. The post Digital storytelling with WordPress – an all-in-one guide to make your web stories pop! appeared first on Meks.
    Ivana Cirkovic
  • How to use WordPress autoposting plugin to improve your visibility and SEO? September 10, 2020
    Did you know you can use the WordPress autoposting plugin for your content efforts and improve not only your time management but your business and visibility as well? The post How to use WordPress autoposting plugin to improve your visibility and SEO? appeared first on Meks.
    Ivana Cirkovic
  • How to create a personal branding site? Step-by-step DIY guide August 15, 2020
    Looking for ways and means to create a personal branding site? Well, look no further ’cause we’re giving away all the how-to’s to do it yourselves! The post How to create a personal branding site? Step-by-step DIY guide appeared first on Meks.
    Ivana Cirkovic
  • Top 15 WordPress content plugins and tools to improve your visibility and rankings July 16, 2020
    Let’s take a look at some of the must-have WordPress content plugins and tools to use to improve both your UX and rankings. The post Top 15 WordPress content plugins and tools to improve your visibility and rankings appeared first on Meks.
    Ivana Cirkovic
  • WCEU 2020 recap – key takeaways from the biggest online WordPress conference June 9, 2020
    Missed WCEU 2020 and all the exciting stuff from there? Here are all the key takeaways and main points to remember so, take notes! The post WCEU 2020 recap – key takeaways from the biggest online WordPress conference appeared first on Meks.
    Ivana Cirkovic

Text

Distinctively utilize long-term high-impact total linkage whereas high-payoff experiences. Appropriately communicate 24/365.