Sri Lanka Agrees to Debt Repayment Freeze Until 2028 to Fend Off China
- Sri Lanka and creditors in final negotiations to suspend debt repayments until 2028
- Goal is to prevent China's influence from expanding in the debt-ridden island
- Repayment period will be 15 years, from 2028 to 2042
- Interest rate to be newly set at around 2%
- No further debt reduction despite Sri Lanka's request
