Array
China has said „the ball is in Sri Lanka’s court“ as it avoided giving a direct reply to the island nation’s request of restructuring its debt, according to a media report.
Sri Lankan has been urging China to restructure its debt as the nation continues to reel under an acute economic crisis.
It is estimated that Sri Lanka owes debt payments of USD 1.5 to 2 billion this year to China. Overall China’s loans and investments in Sri Lanka were estimated to be more than USD eight billion in the last few years.
But Beijing has not made a public commitment for debt relief assistance to Sri Lanka so far.
Quoting a Chinese embassy spokesman, the Daily Mirror news website on Saturday reported that Beijing had communicated to the Sri Lankan Finance Ministry three months ago about its readiness to discuss how to address the debt issue with the Chinese banks.
