Foreign debt

FILE - In this Jan. 2, 2018 file photo, a Chinese construction worker stands on land that was reclaimed from the Indian Ocean for the Colombo Port City project, initiated as part of China's ambitious One Belt One Road initiative, in Colombo, Sri Lanka. Sri Lanka's Finance Ministry spokesman M.R. Hasan said Saturday, Feb. 2, 2019, that he's waiting to hear whether terms of a $1 billion loan from China to construct a highway linking the capital Colombo to the hilly resort city of Kandy for the highway project have been approved. President Maithripala Sirisena's government had criticized the previous administration of strongman Mahinda Rajapaksa for leading the country into a Chinese debt trap. However, the government has turned to China to help relieve economic pressures. (AP Photo/Eranga Jayawardena, File)
February 02, 2019 - 2:47 am
COLOMBO, Sri Lanka (AP) — Sri Lanka is negotiating a $1 billion loan from China to construct a highway linking the capital Colombo to the hilly resort city of Kandy, even as the heavily-indebted South Asian island nation makes arrangements to pay down $5.9 billion in foreign loans this year...
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January 16, 2019 - 7:30 pm
COLOMBO, Sri Lanka (AP) — Sri Lanka is considering a $300 million loan offer from the Bank of China as it prepares to repay foreign debts this year, a Finance Ministry official said. The government has appointed a three-member committee to negotiate the deal, according to Finance Ministry spokesman...
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December 24, 2018 - 6:09 am
COLOMBO, Sri Lanka (AP) — Sri Lanka's finance ministry said Monday that it will present next year's full budget in February after the parliament approved a 1.77-trillion-rupee ($9.39 billion) stopgap measure to cover public expenditures over the first four months of 2019, averting a government...
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