Prime Minister Mahinda Rajapaksa Asks For Three Year Moratorium From India On All Loan Repayments

February 09, 2020

Prime Minister Mahinda Rajapaksa had asked the Indian government if Sri Lanka could get a moratorium on all loan repayments for three years, until we can revive the economy.

"If the Indian government takes this step, then other governments might agree to do the same thing, including China.," Rajapaksa said in an interview with China.

"The previous government took so many loans, they beggared the economy, and it is a mess. It all depends on the stand India takes," Rajapaksa also said in the interview.

This year alone, Sri Lanka is required to pay about $5 billion to service the debt, the highest in Sri Lankan history.

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