Sri Lanka Takes Responsibility for State Enterprises’ Debts to China

Sri Lanka Takes Responsibility for State Enterprises’ Debts to China
Ranil Wickremesinghe in Auckland, New Zealand, on Oct. 1, 2016. Fiona Goodall/Getty Images
Aldgra Fredly
Updated:
0:00

Sri Lanka’s government will take responsibility for loans taken out by state-owned enterprises from China as part of the country’s debt-restructuring plan, President Ranil Wickremesinghe said in parliament on Tuesday.

Wickremesinghe, who is also the finance minister, was delivering the national budget for 2023. He said that loans borrowed from the Exim Bank of China by some state-owned enterprises would be classified as government debt.

Aldgra Fredly
Aldgra Fredly
Author
Aldgra Fredly is a freelance writer covering U.S. and Asia Pacific news for The Epoch Times.
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