China is expected to lose $ 7 billion as a result of Sri Lanka’s external debt reorganization. This information came to light on Tuesday. This information was given by Chinese government newspaper ‘Daily News’ quoting Chinese Ambassador Q Zenhong in Colombo. The ambassador said that China was the first country to sign the debt restructuring agreement with Sri Lanka in October 2023.
Q Zenhong said that most people do not know about it. He said, “The reason for this is that we do not tell the world much about the help given to Sri Lanka.” This means that China is silently helping Sri Lanka, so people are not aware of it.
Sri Lanka was facing economic crisis
Sri Lanka will miss paying their loans for the first time during the economic crisis in 2022. He then reorganized $ 46 billion $ external debt. In simple words, Sri Lanka was a debtor of other countries and institutions. He was having difficulty in paying. So he interacted to change the terms of repaying the loan. This is called debt restructuring.
Demand for help from India
Ambassador Q Zenhong also said that China and India can jointly develop the northern province of Sri Lanka. They hope that both countries will work in this direction. He said that there is no dispute between China and India. He said that the two countries have developed rapidly and they should work together to achieve a shared goal.
Q Zenhong said, “I hope that China, India and Sri Lanka will be able to work together to implement a practical project here one day.” This means that Jenhong wants the three countries to do something in Sri Lanka that will benefit everyone.
