5 February, 2023
The Paris Club of creditor nations has given the green light to provide financing assurances to Sri Lanka, two sources with direct knowledge of the matter said.
This will be a key step needed to unlock a US$ 2.9 billion bailout by the International Monetary Fund (IMF).
The informal group of bilateral lenders is set to “soon” announce its support to the crisis-hit nation on a debt overhaul, said one of the people, who asked not to be named because talks are private. China and India, both non-Paris Club members, are the top bilateral lenders. “Paris Club assurance is not reliant on China,” said the source.