The United Kingdom has come forward to pick up 10 percent of Sri Lanka’s debt repayments to multilateral lenders from next year, as part of the UK government’s efforts to ease the island nation’s US$ 1.5 bn tsunami reconstruction cost. The United Kingdom has come forward to pick up 10 percent of Sri Lanka’s debt repayments to multilateral lenders from next year, as part of the UK government’s efforts to ease the island nation’s US$ 1.5 bn tsunami reconstruction cost. The UK’s initiative is part of a developing countries efforts to ease debts of countries hardest hit by the Dec. 26 Asian tsunami – Sri Lanka and Indonesia.
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Quake Debt
The Paris Club, an |