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IMF caught off guard as China strikes debt deal with Sri Lanka
Mint Mumbai
|October 12, 2023
China reached a tentative debt agreement with Sri Lanka, front-running separate talks the International Monetary Fund (IMF) and other creditors are having with the South Asian nation and catching them by surprise.
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Export-Import Bank of China reached a preliminary agreement with Sri Lanka to resolve its debt, China's foreign ministry said on Tuesday, without providing details of the deal. The IMF and creditors like Japan, the US and India were expected to hold talks this week in Morocco on a debt restructuring plan without the participation of China.
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