Tuesday, 09 July 2024 15:26

Sri Lanka to wrap up bond talks soon balancing India and China ties Featured

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Sri Lanka will wrap up talks with international bondholders on its restructuring process in a few weeks, Foreign Minister Ali Sabry said on Tuesday, a major step for the island nation to emerge from its worst financial crisis in decades.

Sri Lanka will also seek to balance its ties with giant neighbour India and China to ensure that there is no difference in dealing with the two, he said, as the rival Asian giants are key creditors and investors but are also jostling for geopolitical influence in the small Indian Ocean country.

“Hopefully within a couple of weeks,” Sabry said in Singapore, when asked when the nation’s bond restructuring efforts with creditors will be finished.

“Towards the end of this month, officially, we are done and dusted with the restructuring process, then of course, in line with that, we need to start payment,” he said.

 

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