IMF Caught Off Guard as China Strikes Sri Lanka Debt Deal
- China’s EXIM bank reached preliminary agreement in September
- IMF needs entire debt package details to decide if targets met
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China reached a tentative debt agreement with Sri Lanka, front-running separate talks the International Monetary Fund and other creditors are holding with the South Asian nation and catching them by surprise.
The deal between Export-Import Bank of China and Sri Lanka was reached late last month, China’s Foreign Ministry said Tuesday, without providing details of the pact.