Sri Lanka Secures India’s Support for IMF Deal, China’s Approval Pending

Sri Lankan President Ranil Wickremesinghe (R), shakes hands with India’s Foreign Minister S. Jaishankar (L), in Colombo, Sri Lanka, on Jan. 20, 2023. Sri Lankan President's Office via AP

Sri Lanka has secured India’s support for its debt restructuring plan, a key to Sri Lanka securing a $2.9 billion bailout package from the International Monetary Fund (IMF), but it still requires support from its biggest bilateral lender, China.

Indian External Affairs Minister Subrahmanyam Jaishankar said Friday that India will extend financing assurances to the IMF to clear the way for Sri Lanka to move forward with its economic recovery.