- Saturday, April 20, 2024
By: Shubham Ghosh
The Paris Club creditor nations in September reached out to Asian economic giants China and India seeking to coordinate closely on debt talks related to the South Asian island nation of Sri Lanka, but is still awaiting a reply, Reuters reported citing a source with direct knowledge of the matter.
Officials of the Paris Club reached out to two of Lanka’s biggest bilateral creditors after the crisis-torn nation entered a staff-level agreement with the International Monetary Fund (IMF) board for a $2.9 billion loan last month.
The club still hasn’t received a reply from either country, the person told the news agency, seeking anonymity since the talks are private.
The officials also met with Indian officials in Washington on the sidelines of the annual meetings of the IMF and World Bank.
Chinese officials were not present in person, however.
Sri Lanka is grappling with its worst economic crisis in more than seven decades, with more than a quarter of its population struggling with food shortages, according to the United Nations.
