China’s offer to Sri Lanka of a two-year moratorium on its debt is not adequate to clear the way for the International Monetary Fund (IMF) to allow a funding program, Daily Mirror reported citing diplomatic sources. Citing sources, the news report said that the IMF needs more assurances from China to secure IMF board approval for the bailout package for Sri Lanka. Earlier, China’s Foreign Ministry said that Export-import Bank of China (EXIM) has extended debt to Sri Lanka.
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