Classified as a middle-income country, Sri Lanka is not eligible for the G-20’s Debt Service Suspension Initiative nor its Common Framework – both of which China is part of.

Sri Lanka defaulted in May on over $50 billion in external debt, 10% of which is owed to its single biggest lender, China. Sri Lanka is suffering over 50% inflation, twin deficits (budget and ...

Kohona noted that over the last 65 years, Sri Lanka and China have lent mutual understanding and support to each other, maintaining a close friendship and seeking the common goal of development.

COLOMBO, Sri Lanka — It all began 20 years ago, when China loaned Sri Lanka more than $1 billion to build a fancy new port — what would become its second-largest — on its southern coast. The ...

Chinese President Xi Jinping shakes hands with Sri Lankan President Anura Kumara Dissanayake at the Great Hall of the People in Beijing, capital of China, Jan. 15, 2025. [Photo/Xinhua] China will ...

Sri Lanka and China recently signed a Memorandum of Understanding (MoU) in Chengdu, China, to strengthen cooperation in the ...

Dissanayake expressed his appreciation for China’s significant achievements in the fields of economy, technology and infrastructure, saying that China has always been a reliable friend and partner to ...

In November 2023, President Xi Jinping sent Madam Shen Yiqin, State Councillor of China to Sri Lanka as his Special Envoy to interact with Sri Lankan leaders with a special focus on expansion of ...

BEIJING, Jan. 15 (Xinhua) — China will actively support Sri Lanka in focusing on economic development and the two countries should jointly foster new highlights in high-quality Belt and Road ...