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If You’re Going to Criticize China For Its Lending Practices, Make Sure to At Least Get Your Facts Right

Chinese Foreign Minister Wang Yi (L) speaks with Sri Lanka's Prime Minister Malinda Rajapakse during an official meeting in Colombo on January 9, 2022. Ishara S. KODIKARA / AFP

The central bank in Sri Lanka will make a $500 million payment on Tuesday to bondholders, the first tranche of $4.5 billion in debt servicing obligations that Colombo is due to pay this year.

The South Asian island state is in the midst of a full-blown financial crisis brought on by a combination of surging inflation, higher import costs, and rising commodity prices.

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