China will continue to support Sri Lanka’s efforts to address debt vulnerabilities, Chinese vice minister of finance Wang Dongwei has said.
He gave the assurance during a meeting with State minister of finance Shehan Semasinghe in Washington on the sidelines of the 2023 Spring Meetings of the World Bank and the IMF.
“Had a fruitful discussion with Wang Dongwei, Vice Minister of Finance of China on matters of mutual interest. Vice Minister assured China’s continuous support for Sri Lanka’s ongoing efforts to address debt vulnerabilities and boost the Sri Lankan economy,” Semasinghe tweeted.
Meanwhile, the World Bank has called for increased transparency for reforms to succeed in Sri Lanka.
World Bank Vice President for South Asia, Martin Raiser said that he had a productive meeting with state minister Semasinghe in Washington.
“Glad to see progress on fiscal, financial and economic governance reforms. For full recovery, efforts need to go further and the World Bank Group will support with ideas and financing,” Raiser tweeted.
He said that increased transparency is key for reforms to succeed, including the critical social protection reform that aims to protect vulnerable people.
Raiser said that they also discussed development of renewable energy and digital economy, and supporting export-oriented small and medium businesses.
Central Bank Governor Nandalal Weerasinghe also attended the meeting.
China will support Sri Lanka’s debt rework - CB Govenor