China to work with financial institutions to support Sri Lanka in realizing debt sustainability: Mao Ning

Beijing: China stands ready to work with relevant countries and international financial institutions to support Sri Lanka in realizing debt sustainability, Chinese Foreign Ministry Spokesperson Mao Ning said on Wednesday.

The Export-Import Bank of China was the first to tentatively agree with Sri Lanka on debt treatment, which has been crucial for Sri Lanka to advance fiscal reform and win further support from international creditors, she said in response to a question during her regular briefing held here.

She said that the Chinese side stood ready to work with relevant countries and international financial institutions to support Sri Lanka in realizing debt sustainability.

Sri Lanka signed a deal today with creditor nations to restructure about $5.9 billion in bilateral debt in a key move to further stabilize its fragile crisis-hit economy, the office of the Sri Lankan president in a statement.

To a question about the current state of conflict in Myanmar, the spokesperson said that the Chinese side believed that maintaining the momentum of ceasefire and peace talks was not only in the interest of all parties in Myanmar but also conducive to the tranquility of the China-Myanmar border area.

“China is of the view that Myanmar needs to restore stability at an early date, and China will continue to do what it can to assist and support the process of peace talks,” she added.