SJB welcomes debt relief moves by India and China

SJB MP Dr. Harsha de Silva 

• The main Opposition Samagi Jana Balawegaya (SJB) yesterday welcomed debt relief support by China and India, the first and third largest bilateral creditors to Sri Lanka.

By Darshana Abayasingha

The main Opposition Samagi Jana Balawegaya (SJB) yesterday welcomed debt relief support by China and India, the first and third largest bilateral creditors to Sri Lanka.

SJB MP Dr. Harsha de Silva said yesterday that moves by China and India would help bailout efforts by the International Monetary Fund (IMF).

De Silva, who is also Chairman of the Parliamentary Committee on Public Finance, said the Central Bank Governor and the Treasury Secretary have been called before the committee today to provide clarity on the status quo with regards to discussions with the IMF, debt restructuring and other associated activities such as State Enterprise reforms.

India last week gave its financial assurance of “financing/debt relief” by the Export-Import Bank of India whilst China had indicated a two-year moratorium for Sri Lanka.

China is Sri Lanka›s biggest bilateral lender with $ 7.3 billion or 52% of total by bilateral creditors. India is third with $ 1.68 billion or 12% of total.