Sri Lanka’s debt restructuring is deeply embedded both within a global emerging market debt crisis and a moment of rethinking within China about its global role as a creditor.
China’s role in lending to Sri Lanka has expanded in the last 20 years, but fewer Chinese loans would not have saved the country from its current economic crisis.
Although analysts here believe that 73-year-old Wickremesinghe is in the lead, the evidence of numbers in the 225-assembly don’t necessarily suggest it would be plain sailing.