China on Friday said it is ready to play a positive role on the restructuring of Sri Lanka’s foreign debt.
“We are ready to work with relevant countries and international financial institutions to continue to play a positive role in supporting Sri Lanka’s response to current difficulties and efforts to ease debt burden and realise sustainable development,” Chinese Foreign Ministry Spokesperson Zhao Lijian said.
He was responding to a question at his weekly briefing in Beijing whether China as a creditor nation has any comment to Japanese Finance Minister Shunichi Suzuki on Friday urging all countries that lent money to Sri Lanka, including China, to discuss the country’s debt restructuring.
“China has paid close attention to the difficulties and challenges faced by Sri Lanka and we have provided help to Sri Lanka’s socioeconomic development to the best of its capacity. China supports relevant financial institutions in consulting with Sri Lanka for proper solutions,” Zhao added.
China accounts for the largest share (44%) of Sri Lanka's outstanding bilateral debt which as at end 2021 was $ 10 billion.
FT