Western lenders are stepping up pressure on China to stop playing solo and join the international effort to provide debt relief to Sri Lanka.
Paris Club creditors as well as Hungary and Saudi Arabia called on the world’s second-biggest economy to give the financial assurances needed for the South Asian nation to secure a $2.9 billion bailout from the International Monetary Fund. The call comes amid growing fears that China’s unilateral positioning might delay and complicate the financial rescue of Sri Lanka just like it happened in the case of Zambia.
