Follow CGSP on Social Media

Listen to the CGSP Podcast

Zambia is Going to Look Easy Compared to the Financial Mess in Sri Lanka

by Eric Olander
Billboard in Colombo announces the return of ousted former Sri Lankan president Gotabaya Rajapaksa who ended his self-imposed exile in Thailand and came back to the island on September 4, 2022. Amal JAYASINGHE / AFP

A broad cross-section of the international financial community is warning that Sri Lanka’s major creditors must move quickly to restructure the country’s debts or else full-scale economic collapse is inevitable.

The latest warning signal came from the Hong Kong office of Fitch Ratings which cautioned that Colombo would have to default again on a portion of its debt obligations, this time local bonds, unless the debt restructuring process speeds up. 

Lead the Conversation on China

Subscribe Today to Get Full Access to The China-Global South Project

Check Out Everything You'll Get With Your Subscription

The China-Global South Daily Brief delivered to your inbox at 6AM Washington time

Full access to exclusive news and analysis from editors based in the Global South

Transcripts of CGSP’s twice-weekly podcasts

Students and teachers with a valid .edu email address are eligible for a 50% discount off monthly or yearly subscriptions. Email us to receive a discount code.

You Might Like

China’s Debt Relief Offer For Sri Lanka May Not Be Enough to Satisfy IMF, Say Insiders

Sri Lanka’s desperately-needed financial lifeline from the International Monetary Fund may be in jeopardy due to an insufficient debt restructuring offer from China, Colombo’s largest bilateral creditor. The IMF is ...

China Observes But Doesn’t Participate in Sri Lanka’s Inaugural Debt Meeting

Sri Lanka’s major bilateral creditors convened their first meeting on Tuesday, but the country’s largest bilateral lender, China, was in the room but only as an observer. “If China decides to participate, we ...

Sri Lanka Caught in the Middle of China and India’s Geopolitical Rivalry

Lead the Conversation on China Subscribe Today to Get Full Access to The China-Global South Project ...

What is The China-Global South Project?

Independent

The China-Global South Project is passionately independent, non-partisan and does not advocate for any country, company or culture.

News

A carefully curated selection of the day’s most important China-Global South stories. Updated 24 hours a day by human editors. No bots, no algorithms.

Analysis

Diverse, often unconventional insights from scholars, analysts, journalists and a variety of stakeholders in the China-Global South discourse.

Networking

A unique professional network of China-Africa scholars, analysts, journalists and other practioners from around the world.

Subscribe