Country: Sri Lanka
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Sri Lanka Busts Chinese Cybercrime Racket
Sri Lanka's police have arrested 198 Chinese men on suspicion of operating a cybercrime ring from the South Asian nation, a police spokesman said Sunday. Deputy Inspector-General Nihal Thalduwa said the men were taken into custody at four locations during raids ...
Sri Lanka Approves Controversial Foreign Debt Deal
Sri Lanka's new government has approved a controversial restructure of $14.7 billion in foreign commercial credit tentatively agreed by its predecessor, the finance ministry said Saturday. Former leader Ranil Wickremesinghe announced a deal with international sovereign bondholders and the China Development ...
With Global Attention Elsewhere, Asia-Pacific Remains a Theater for China-India Rivalry
By Saniya Kulkarni In what has turned out to be the closest election in the history of Sri Lankan politics, left-leaning Anura Kumara Dissanayake has unseated Ranil Wickremesinghe to become the island country’s eighth president, also
China Pledges More BRI Cooperation as Sri Lanka Swears in New Leader
Anura Kumara Dissanayake was sworn in as Sri Lanka’s new president on Monday, after winning a rare second-round election over the weekend. The Marxist-leaning leader of the Janatha Vimukthi Peramuna (People’s Liberation Front) party won on a ticket of economic reconstruction ...
Xi Says Wants to Deepen BRI Cooperation With Sri Lanka Under New Leader
Chinese President Xi Jinping on Monday said he hoped to broaden cooperation with Sri Lanka under his Belt and Road Infrastructure Initiative (BRI) as he congratulated the island nation's new leader, Anura Kumara Dissanayaka. Dissanayaka, a self-avowed Marxist, took his oath ...
Cash-Strapped Sri Lanka Eyes China Development
By Amal Yayasinghe Sri Lanka's economic collapse was partly blamed on struggling high-debt Chinese mega-projects, but candidates in Saturday's presidential election are banking on at least one of them to buck the trend. The strategically ...
Sri Lanka to Save $5 Billion From Bilateral Debt Deal
Sri Lanka will save $5 billion following the restructuring of its bilateral debt, much of which is owed to China, through slashed interest rates and longer repayment schedules, the president said Tuesday. The island nation defaulted on its foreign borrowings in ...
WEEK IN REVIEW: Philippines Eyes China Talks After Violent Sea Clash
Chinese President Xi Jinping met with Vietnamese Prime Minister Phạm Minh Chính in Beijing on Wednesday for talks that focused on infrastructure development. The Prime Minister is looking for more Chinese support to bolster Vietnam's rail and energy sectors. (VN EXPRESS)
Sri Lanka’s Creditors Demand Deal Details, Including With China
Sri Lanka's bilateral lenders, who agreed to restructure close to $6 billion in loans, have demanded "comparability of treatment" with other creditors, including China. A statement seen by AFP on Thursday read that the Official Creditor Committee (OCC), led by Japan, ...
Sri Lanka Seals Debt Deal With China, Others After Crash
By Amal Jayasinghe Sri Lanka said on Wednesday it had clinched a restructuring deal with key bilateral lender China and other nations, covering up to $10 billion in debt. This is a critical step towards recovery after the 2022 financial crash.
Cash-Strapped Sri Lanka Set to Sign Key Debt Deals With China and Other Lenders
Sri Lanka has finalized long-delayed debt deals with its bilateral lenders, including China, to meet a key condition of an IMF bailout, the government said Tuesday. A treasury delegation is on its way to France to sign agreements with creditors on ...
IMF Releases Sri Lanka Loan Despite Restructure Delays
The International Monetary Fund released $336 million as part of a bailout loan installment for Sri Lanka despite delays in the crucial restructuring of its foreign debt, including to China, the Washington-based lender said Wednesday. The South Asian nation was starting ...