USAID chief urges China to assist Sri Lanka’s debt restructuring

 

USAID chief urges China to assist Sri Lanka’s debt restructuring Visiting USAID Administrator Samantha Power on Sunday urged China, among other creditors, to assist Sri Lanka in restructuring debts to recover from the ongoing economic crisis. 

Completing her two-day visit to the island nation that grapples with the worst-ever economic crisis since its independence from British rule in 1948, Power announced that the US was ready to help South Asian island in its debt restructuring process. “As Sri Lanka seeks to emerge from this economic crisis, the United States, as a creditor and a member of the Paris Club, stands ready to participate in the restructuring of Sri Lanka’s debts,” Power told journalists in Colombo. 

And we think this is a really important moment in Sri Lanka for that same mindset of standing with our friends, no strings attached, and in the interest of economic independence and economic stability for this country,” Power added. 

The USAID stated that the complex emergency that has resulted in a severe economic crisis has left nearly 5.7 million Sri Lankan people in urgent need of food, agriculture, livelihood support, protection, and more.