Crisis-hit Sri Lanka cannot use $1.5-bn China help on IMF concerns

India - creditor and neighbour to Sri Lanka - wants the IMF to treat China on par with other creditors.

Bankrupt Sri Lanka can’t tap a $1.5 billion credit line from Beijing as China is concerned the International Monetary Fund may force delays in repayment. 

“There is a condition in relation to the months of import cover that we need to have in order to be able to draw on that money,” said Indrajit Coomaraswamy, a former central bank of Sri Lanka governor who is advising the government. 

It’s difficult for China to waive off the condition “because this is a three-year swap, it might be termed a loan and there may be pressure from IMF and others to include it in