Sri Lanka Crisis: Colombo Reaches Debt Deal With China
Sri Lanka has confirmed that it has reached a deal with China, to restructure $4.2bn (£3.4bn) of debt. It has been trying to reach similar deals with a number of creditors to unlock the next tranche of a bailout. Sri Lanka defaulted on its foreign debt in May 2022 amid its worst financial crisis in decades. Soaring prices and shortages of essential goods sparked nationwide protests last year. We thank […]