China reaches out to SL to handle matured debts

REUTERS: China’s financial institutions reached out to Sri Lanka after the latter’s announcement to suspend international debt payments and showed “full readiness” to handle the matured debts concerning China, Foreign Ministry Spokesman Zhao Lijian told the Global Times on Thursday.

China mostly extends preferential loans to Sri Lanka with low interest rates and long-term maturity, Lijian told the State-backed Chinese newspaper.