Sri Lanka rejects fears of China’s ‘debt-trap diplomacy’ in belt and road projects

[enhanced_deficit]

Sri Lanka rejects fears of China’s ‘debt-trap diplomacy’ in belt and road projects

Sri Lanka rejects fears of China’s ‘debt-trap diplomacy’ in belt and road projects

Laura Zhou
Published: 22 Apr, 2019

Sri Lanka’s top envoy to China has said the island nation will never default on its loans and will meet its obligations to lenders this year – expected to amount to US$5 billion – despite being caught in an intense debt crisis.

“I believe even for the rest of this year we’ll be able to manage, and next year onwards, we’ll still have to pay back, but not such a heavy obligation. Therefore, by 2020 onwards, our situation would be much more favourable. We’ll be able to invest more capital from our own funds for development, including improvement in the quality of people’s lives.”

Kodituwakku was speaking to the South China Morning Post at the Sri Lankan embassy in Beijing earlier this month, before the devastating Easter Sunday bombings, which have so far killed at least 290 people.

https://www.scmp.com/news/china/dip...cts-fears-chinas-debt-trap-diplomacy-belt-and


Related

'New Delhi Hobnobs With Neocons To Disrupt The New Silk Road In Europe'