China says the prime minister of Sri Lanka will visit next week

Beijing’s foreign ministry said on Friday that Sri Lankan Prime Minister Dinesh Gunawardena would pay a visit to China, the largest bilateral lender to his nation, the following week.

Foreign Ministry Spokesperson Lin Jian said in a statement that Prime Minister of Sri Lanka Dinesh Gunawardena “will pay an official visit to China from March 25 to 30 at the invitation of Premier Li Qiang of the State Council.”

Roughly ten percent of the island’s entire foreign debt is owed to Beijing.

In April 2022, Sri Lanka fell behind on its $46 billion external debt due to a shortage of foreign currency that prevented the nation from paying for basic imports including food, gasoline, and medication.

Last year, it obtained a $2.9 billion bailout from the International Monetary Fund (IMF), with the program subject to a debt agreement that appeases international creditors.

This Monday, the IMF said that it and Colombo had achieved a staff-level agreement that would allow $337 million, the third installment of the four-year bailout, to be released.

However, it said that finalizing deals with creditors was one of the “critical” next stages.

Beijing announced on Friday that Gunawardena will have “an in-depth exchange of views on continuing China-Sri Lanka traditional friendship” with Chinese Premier Xi Jinping during his visit.

Foreign Ministry Spokesman Lin said, “China attaches great importance to the development of China-Sri Lanka relations.”

In addition, he said, it will “jointly build the Belt and Road with high quality, expand exchanges and cooperation in various fields,” alluding to the massive infrastructure project that forms the backbone of President Xi’s attempt to increase China’s influence abroad.

On Friday, China also said that a visit by the foreign minister of Nepal, a country in South Asia closely associated with Beijing, was planned.

“Narayan Kaji Shrestha will pay an official visit to China from March 25 to April 1,” Lin said.