Sri Lanka debt talks with India, China successful: President

Debt re-structuring talks with India and China are successful, President Ranil Wickremesinghe told parliament as the country is trying get an International Monetary Fund bailout.

“I can tell this assembly that the talks are successful,” President Wickremesinghe told parliament.

“Very soon we will have an answer.”

Sri Lanka has raised taxes and tightened spending to bring a wide budget deficit and unsustainable debt under control. Formal assurances that creditors are willing to re-structure debt has to be given.

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