News Snapshot:
The economic crisis triggered by forex shortages has sparked public protests in Sri Lanka. China has given debt-ridden Sri Lanka the financing assurances required by the IMF to unlock a USD 2.9 billion bailout package for the country, days after India strongly backed the island nation's efforts to secure the loan from the global lender to recover from its worst-ever economic crisis. The Sunday Times newspaper reported that China's Exim Bank delivered a letter on Saturday granting Sri Lanka a two-year moratorium on repayment and agreeing with the International Monetary Fund's extended fund facility (EFF). The report was confirmed by...
