Sri Lanka says it has begun talks with China on refinancing debt

$A boy holds a Sri Lankan national flag in front of the Presidential Secretariat during a protest against Sri Lankan President Gotabaya Rajapaksa, amid the country\\'s economic crisis, in Colombo, Sri Lanka, April 10, 2022. REUTERS/Dinuka Liyanawatte , REUTERS$

A boy holds a Sri Lankan national flag in front of the Presidential Secretariat during a protest against Sri Lankan President Gotabaya Rajapaksa, amid the country's economic crisis, in Colombo, Sri Lanka, April 10, 2022. REUTERS/Dinuka Liyanawatte
REUTERS

Discussions with Beijing are at an early stage

Uditha Jayasinghe, Reuters News

April 26, 2022

PHOTO
A boy holds a Sri Lankan national flag in front of the Presidential Secretariat during a protest against Sri Lankan President Gotabaya Rajapaksa, amid the country's economic crisis, in Colombo, Sri Lanka, April 10, 2022. REUTERS/Dinuka Liyanawatte

COLOMBO - Sri Lanka has begun discussions with China about refinancing its debt, a cabinet spokesman said on Tuesday, as Colombo struggles with its worst financial crisis in decades.

"China has indicated their stance is that because they have lent to many countries around the world ... they have suggested that they will refinance the debt," said Nalaka Godahewa, who also serves as Sri Lanka's media minister.

Discussions with Beijing were at an early stage, he added.

(Reporting by Uditha Jayasinghe in Colombo; Writing by Alasdair Pal; Editing by Christopher Cushing)

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