China Says Exim Bank, Sri Lanka Reached Preliminary Debt Deal
A building displaying signage for the Export-Import Bank of China, right, in the central business district of Chengdu, China.
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China said one of its financial institutions has reached a preliminary agreement with Sri Lanka on resolving China-related debt, a potentially major step toward resolving the South Asian nation’s fiscal woes.
The deal involving Export-Import Bank of China was reached late last month, Chinese Foreign Ministry spokesman Wang Wenbin said Tuesday at a regular press briefing in Beijing. Wang didn’t give details on how the debt was resolved, and officials in Sri Lanka didn’t immediately respond to request for comment.