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India notifies it will support Sri Lanka’s debt restructuring plan – Bloomberg

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COLOMBO (News 1st) – India formally notified that it would support Sri Lanka’s debt restructuring plan, according to a person with knowledge of the matter, reported Bloomberg News.This would clear a major hurdle for the bankrupt nation to unlock a $2.9 billion bailout from the International Monetary Fund.India, one of Sri Lanka’s major bilateral creditors, gave its assurances late Monday (16), the person said, asking not to be identified as the details aren’t public, reported Bloomberg News.An announcement could be made as early as Tuesday, another person said, according to the report..

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