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US hopeful after China agrees to restructure Sri Lanka’s debt
08 Apr, 2023
The United States (US) says it is hopeful after China agreed to restructure Sri Lanka’s debt.
US Treasury Secretary Janet Yellen said that China’s decision to participate in restructuring Sri Lanka’s debt was a hopeful sign.
?We have seen some movement by China on participating in debt restructuring for Sri Lanka, which is a hopeful sign,? Yellen told AFP.
She also said that the World Bank?s ongoing reform could result in a $50 billion lending boost over the next decade.
Central bankers, finance ministers and participants from more than 180 member countries are expected to gather in the US capital for the International Monetary Fund and World Bank?s spring meetings in the coming week.
A key topic of discussion will be the World Bank?s evolution, amid a push for lenders to revamp and meet global challenges like climate change. The United States is the largest shareholder of the World Bank Group. (Colombo Gazette / AFP)
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