INSUBCONTINENT EXCLUSIVE:
Prime Minister Ranil Wickremesinghe previously told Bloomberg that the percentage of loans from Japan and China are the same, but the
Chinese interest rates are higher.The bridge loans are essential for the island nation to pay for food and fuel, with severe shortages
Sri Lanka has defaulted on foreign payments and is seeking both rapid aid and a longer extended fund facility from the IMF, but must first
show it has taken steps to reduce its existing debt burden.Coomaraswamy said Sri Lanka expects a staff level agreement with the IMF as early
however, is to agree on a base line for the Debt Sustainability Analysis and those negotiations are underway, Coomaraswamy said
as saying by Bloomberg.Source: Bloomberg--Agencies
This article first appeared/also appeared in https://adaderana.lk
