Sri Lanka seeks to restructure Chinese debt amid crisis | Health
By KRISHAN FRANCIS – Associated Press
COLOMBO, Sri Lanka (AP) – The debt-ridden president of Sri Lanka on Sunday called on China to restructure its loans and access preferential credits for imports of essential goods, as the island nation debate in the throes of its worst economic crisis, in part because of Beijing-funded projects that don’t generate revenue.
President Gotabaya Rajapaksa told Chinese Foreign Minister Wang Yi that it would be “a great relief for the country if attention could be paid to restructuring debt repayments as a solution to the economic crisis that has arisen in the face of the COVID-19 pandemic. “, According to a press release from his office.
Rajapaksa asked Wang for a concessional credit facility for imports so that industries can operate without interruption, the statement said. He also asked for help to allow Chinese tourists to travel to Sri Lanka in a secure bubble.
Wang and Prime Minister Mahinda Rajapaksa, brother of the president, then visited the port city of Colombo, a reclaimed island developed with Chinese investment, where they opened a promenade and inaugurated the navigation of 65 boats to commemorate 65 years of relations. diplomatic relations between the two countries.
In his address to the port city, Wang said a persistent and uncontrolled pandemic has made economic recovery difficult, and the two countries must use the anniversary of diplomatic ties to work more closely.