Lazard in talks with China, India, Japan on restructuring Sri Lanka's debt

The three countries hold about $13 billion of Sri Lanka's debt, while China is Sri Lanka's largest bilateral creditor

Financial advisory group Lazard has started talks with India, China and Japan on restructuring Sri Lanka's debt, a spokesman for the Sri Lanka government said on Tuesday, as the crisis-hit island nation seeks an International Monetary Fund (IMF) bailout.
 

Lazard was hired by Sri Lanka in May, along with international lawyers Clifford Chance, to guide the government through the process of restructuring its debt, for which estimates range from $85 billion to well over $100 billion.
 

Earlier this month, the IMF said it had reached a preliminary agreement with Sri Lanka for a loan of about $2.9 billion. But for