China plays catch-up with India in Sri Lanka; fails

January 24, 2023 at 10:21 AM

China has been desperately trying to catch up with India’s economic support to Sri Lanka but to no avail, as per local media reports.

A report by The Sunday Morning said China sent a letter to Sri Lanka’s Finance Ministry last week expressing its support for the International Monetary Fund (IMF) programme being pursued by the island nation amid the unprecedented economic crisis. 

This development comes a few days after India backed the island nation’s efforts to secure a loan from the global lender, as the country seeks assurances that debt will be restructured as per the IMF programme. (ANI)

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