China relents on Sri Lanka debt, paving way for bailout

Beijing eyes opportunity to extend clout over Global South

20230308N Sri Lanka

A man carries a sack of vegetables at a main market in Colombo. © Reuters

RYOSUKE HANADA and IORI KAWATE, Nikkei staff writers

MUMBAI/BEIJING -- Sri Lanka is a step closer to receiving a $2.9 billion bailout package from the International Monetary Fund after China, a leading creditor, offered additional support amid growing calls for relief.

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