Page 13 - Bailout Package News Today : Breaking News, Live Updates & Top Stories | Vimarsana

archana shukla reports on why china s agreement is so crucial for sri lanka. china is sri lanka s largest bilateral lender, accounting for nearly 52% of the total sovereign debt on sri lanka s books. and them coming on board, in fact, was literally the largest piece needed for sri lanka to secure that imf loan. literally at the last piece needed. remember, other nations like india and japan had already agreed to on loan restructuring, which is a key prerequisite by the imf after sri lanka defaulted on a loan repayment. in fact, to meet other conditions laid out by the imf, sri lanka has already imposed sharp tax hikes, interest rates have been raised, subsidies on fuel and electricity have been cut, which means the tariffs have gone up. president ranil wickremesinghe, in fact, told the sri lankan parliament today that with china s approval now in place, they are expecting the imf loan bailout package to materialise in the third or fourth week of this month itself. and this money is

Sri lankaChina sArchana shuklaLoan repaymentInterest ratesRanil wickremesingheTax hikesSri lankan parliamentBailout package