Japan to coordinate with Sri Lanka creditors to resolve debt crisis

TOKYO (REUTERS) – Japan will coordinate with other creditors to resolve Sri Lanka’s deepening financial crisis, Finance Minister Shunichi Suzuki said on Tuesday (Aug 30), urging all creditor nations to gather and discuss the South Asian nation’s debt at the same table. “We are concerned about Sri Lanka’s severe socio-economic situation,” Suzuki told reporters. Sri […]

China to waive some Africa loans, offer $14 billion in IMF funds

BEIJING (BLOOMBERG) – China, the largest government creditor to emerging economies, said it will forgive 23 interest-free loans to 17 African countries and redirect US$10 billion (S$14 billion) of its International Monetary Fund reserves to nations on the continent. Foreign Minister Wang Yi announced the cancellations in a meeting last week of the Forum on […]