Sri Lanka’s multibillion-dollar debt to Beijing threatens to hinder efforts to resolve a financial crisis so severe that the Indian Ocean nation cannot import food or gasoline.
COLOMBO, Sri Lanka China says its initiative to build ports and other infrastructure across Asia and Africa, paid for with Chinese loans, will boost trade. But in a cautionary tale for borrowers, Sri Lanka’s multibillion-dollar debt to Beijing threatens to hinder efforts to resolve a financial crisis so severe that the Indian Ocean nation cannot import food or gasoline.
DNA Explainer: How China s projects destroyed Sri Lankan economy - Sri Lanka has foreign debt obligations of around USD 7 billion in 2022, including prepayment of bonds worth USD 1 billion in July 2021.
LankaWeb – Sri Lanka asks for food aid lankaweb.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lankaweb.com Daily Mail and Mail on Sunday newspapers.