Sri Lanka’s president said Tuesday that China has given crucial debt restructuring assurances that mean the bankrupt Indian Ocean nation could get its $2.9 billion bailout package approved soon.
President Ranil Wickremesinghe told Parliament that a letter from China's EXIM bank with the necessary assurances was received on Monday night and immediately he and the Central Bank governor sent a letter of intent to the International Monetary Fund for the final approval.
