China has actually assured that it stands all set to work with the appropriate nations and institutions with regard to helping Sri Lanka in terms of its debt.

Speaking at a press conference the other day (16 Jan.), the Spokesman for Chinas Ministry of Foreign Affairs, Wang Wenbin, kept in mind that China has been carefully following the ongoing difficulties dealt with by the island nation, and has provided all possible assistance for both, Sri Lankas social and financial development, to the best of their capabilities.

In action to a concern raised referring to Sri Lankas financial obligation restructuring and the impact Chinas Communist Partys recent see has actually had on the matter, Wenbin noted that while a delegation of the Communist Party of China (CPC) just recently went to the island, headed by Vice President Chen Zhou, he is unable to comment on the matter and thus referred the concern to other relevant authorities.

The Spokesman specified, however, that with regard to Sri Lankas dues to China, they support the relevant banks in having consultations with Sri Lanka to seek a propoer settlement relating to the matter, including that China stands ready to work with appropriate nations and worldwide banks and continue to play a favorable function in helping Sri Lanka navigate the situation, relieving its financial obligation burden and assisting it attain sustainable advancement.

In the meantime, we hope and think that Sri Lanka will operate in the same instructions and make independent efforts to promote the legitimate rights and interests of foreign investment and funding partners, and keep stability and reliability of its financial investment and financing environment , Wenbin concluded his reaction.

Sri Lankas financial obligation restructuring presently stands at an essential juncture, with agreements underway between the government of Sri Lanka and its bilateral lenders; China, Japan and India.

The island nation is likewise waiting for board approval for the International Monetray Fund (IMF) bailout, which is likely to be obtained in the first quarter of 2023, based upon the aforementioned arrangements.