Sri Lanka to negotiate new loan from China

The Governor of the Central Bank Ajith Nivard Cabraal says that Sri Lanka would try to negotiate a new loan from China to cushion the effects of the country’s debt repayments to China itself. 

Responding to a question from journalists at a press briefing in Colombo today (12), he said that Sri Lanka has a very good understanding with China about its debt and debt repayment as well as investments. 

“In this instance the assistance that has been sought may have been connected to the debt repayments that we are having. But it is only with regard to China,” he said, adding that Sri Lanka has an understanding with China that they would assist the island nation in making the repayments in that form. 

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–Ada Derana

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