China suffered a loss of 7 billion dollars, this matter is related to Sri Lanka

China News: Neighboring country China has lost US $ 7 billion from Sri Lanka's external debt restructuring. The state-run newspaper 'Daily News' has given this news quoting China's Ambassador to Colombo, Qi Zhenhong.

China became the first bilateral lender

Zhenhong said that China was Sri Lanka's first bilateral lender to enter into a restructuring agreement in October 2023. However, he also stressed that the public is not aware of these details as China does not publicly disclose the details of the assistance given to Sri Lanka.

Sri Lanka's economic crisis and restructuring process

During the economic crisis in 2022, Sri Lanka announced the restructuring of US $ 46 billion of external debt. Due to this crisis, the country faced difficulties in repaying its debt, which led to the need for cooperation at the international level. China played an important role in this restructuring process, but as a result it suffered economic losses.

Emphasis on cooperation with China and India

Ambassador Zhenhong also expressed positive views about India. He said that both China and India are moving forward rapidly and they should work together to achieve common goals. He expressed hope for joint cooperation between India and China in the development of Sri Lanka's Northern Province.

He also said that China has no dispute with India and cooperation between the two countries is likely to increase in the future. He expressed hope that China, India and Sri Lanka will be able to work together to implement viable projects in the region.

Conclusion

While Sri Lanka's external debt restructuring has caused economic losses to China, it is clear that both China and India are willing to contribute to Sri Lanka's economic development and stability. In the future, cooperation between these three countries can strengthen Sri Lanka's economy and accelerate regional development.