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Reuters
Reuters
Business

China backs Sri Lanka's decision to work with IMF to restructure debt

Sri Lanka China Ali Sabry International Monetary Fund Beijing
FILE PHOTO: International Monetary Fund logo is seen outside the headquarters building during the IMF/World Bank spring meeting in Washington, U.S., April 20, 2018. REUTERS/Yuri Gripas

China supports crisis-hit Sri Lanka's decision to work with the International Monetary Fund (IMF) to restructure its debt, Beijing's ambassador Qi Zhenhong told Sri Lankan Finance Minister Ali Sabry at a meeting on Monday.

Sri Lanka last month unilaterally suspended external debt repayments before approaching the IMF for help. China is one of Sri Lanka's largest bilateral lenders with about $6.5 billion in loans.

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