Sri Lankan President Ranil Wickramasinghe is set to leave for China to attend a forum in Beijing marking the 10th anniversary of the ‘Belt and Road’ initiative. This initiative, presented by Chinese President Xi Jinping, aims to develop global infrastructure and energy networks. The forum will host leaders, heads of international organizations, ministerial officials, business representatives, and academics from more than 140 countries and over 30 international organizations.
During this official visit, President Wickramasinghe is expected to discuss debt restructuring in China, where Sri Lanka owes approximately $7 billion in bilateral and commercial debt. Sri Lanka recently signed an agreement with the Export-Import Bank of China, covering $4.2 billion of outstanding loans, but it continues negotiations with other major bilateral creditors, including Japan and India, for a comprehensive debt restructuring plan. This trip marks President Wickramasinghe’s first official visit to China since assuming office.
