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Sri Lanka PM Says China To Develop Strategic Infrastructure like deep seaport and the capital’s airport after the talks with Chinese PM
Sri Lankan PM Dinesh Gunawardena
Dr.G.R.Balakrishnan Mar 28 2024 Logistics News (Roadways & Railways)

Sri Lanka PM Says China To Develop Strategic Infrastructure like deep seaport and the capital’s airport after the talks with Chinese PM

Sri Lankan Prime Minister Dinesh Gunawardena said China — the island’s biggest bilateral creditor — would “assist” Sri Lanka’s restructuring of external debt, a key condition to maintaining a $2.9 billion IMF bailout.Beijing’s position on debt restructuring has not been made public, but Sri Lankan officials have said China was reluctant to take a haircut on its loans but could extend the tenure and adjust interest rates..

Gunawardena said Beijing had offered “assistance to develop” Colombo International Airport and Hambantota port, the statement added, without giving further details.

Because of since Sri Lanka’s sovereign debt default, Japanese-funded expansion of Colombo airport had been on hold ‘

Relationship between India and Sri Lanka was put to strain when the island nation allowed a Chinese research vessel to visit it despite India’s protest.