INSUBCONTINENT EXCLUSIVE:
(Bloomberg) - China said one of its financial institutions has reached a preliminary agreement with Sri Lanka on resolving China-related
reached late last month, Chinese Foreign Ministry spokesman Wang Wenbin said Tuesday at a regular press briefing in Beijing
boosts efforts to win agreements with other creditors such as Japan and India, as well as with holders of its foreign bonds
Reaching a deal quickly will allow Sri Lanka to keep tapping funds from its $3 billion bailout program with the International Monetary
Fund.Sri Lankan dollar bonds due 2030 were steady at 45.8 cents on the dollar
participation.The members wanted the group of major creditors to sign a memorandum of understanding with Sri Lanka around the time of the
IMF and World Bank meetings which are ongoing in Marrakesh, Morocco.Separately, Sri Lanka may be able to draw the outlines of a deal with
holders of its defaulted dollar bonds as early as this month, Bloomberg reported in September.Sri Lanka in September agreed to restructure
about $10 billion of local debt.-Agencies
