Sri Lankan economy may take time to revive, vicious trap called ‘Chinese Loans’ holds it tight

AvatarPosted by

Colombo [Sri Lanka], May 23 (ANI): The failure of Sri Lanka’s economy due to faulty economic planning bore fruit for China’s strategic ties as the island nation is caught in a vicious cycle of Chinese loans.
Upon shocks of the Covid-19 pandemic and the Russia-Ukraine war, Sri Lanka’s over-reliance on China as a development partner proved wrong as China’s predatory debt diplomacy increased the foreign debts of the nation aRead MoreLatest Travel and Tourism News RSS feed – Big News Network