Country: Sri Lanka
How Will the Debt Crisis Affect China’s Image as a Development Partner?
By Lukas Fiala As the debt crisis across the Global South accelerates, many commentators are weighing in on the drivers and implications of repayment difficulties and defaults. Unsurprisingly, as a major bilateral creditor to many governments across the developing world, China is ...
Sri Lanka Relents to Indian Pressure and Requests China to Defer Military Ship’s Arrival
Sri Lanka said on Monday it had asked China to defer the planned visit of a Chinese ship to the island country after initially approving its arrival this week, yielding to diplomatic pressure from neighbor India to keep the military vessel out.
How a Major Shift in Chinese Lending is Backfiring Across the Global South
Chinese lending is increasingly shifting from boosting development to helping indebted countries keep the lights on. This is now adding to debt distress across the developing world. AidData, a research group at the College of William and Mary ...
After Zambia’s Successful Debt Restructuring, Sri Lankans Hope China Will Also Take the Lead to Help Resolve Their Crisis
Now that Zambia's Creditor Committee reached a landmark debt restructuring deal with its bilateral lenders, there's new optimism that the same will happen in Sri Lanka. The South Asian island state is ...
China Faces Twin Pressure From U.S., IMF Over Debt Crisis in Sri Lanka
The Chinese government is under mounting pressure from both the United States and the International Monetary Fund to do more to help resolve the worsening debt crisis in Sri Lanka. Colombo owes Beijing an estimated $6.5 billion, ...
Chinese Netizens Aren’t Keen to Bail Out Sri Lanka
While international calls grow louder for China to restructure Sri Lanka's debt obligations, a very different conversation is going on in Chinese media and online communities. Antara Ghosal Singh, an expert on Chinese domestic development and a fellow at the New ...
China Piled On Debt As Sri Lanka Sank: WSJ
The Wall Street Journal has published a highly critical account of China's involvement in Sri Lanka's debt crisis. It quotes current and former Sri Lankan officials claiming that China discouraged them from seeking an early IMF bailout, offering loans for liquidity support instead.
China’s Shaky Bet on the Rajapaksa Family
Since Sri Lanka's ruling Rajapaksa family's hurried exit as their country descended into chaos, China has been notably quiet. Official responses have been late. When he responded, Zhao Lijian, the Foreign Ministry spokesperson, only said: "China pays great ...
What is China’s Real Role in Sri Lanka’s Debt Crisis?
Few debt crises have triggered as much disinformation as Sri Lanka’s. The country is currently grappling with a complex debt restructuring process amid its worst economic crisis since independence. The role of Chinese debt has drawn much attention and many false narratives - ...
Possible U.S.-China Cooperation in Sri Lanka?
Sri Lanka is currently scrambling for support amid its worst economic crisis since independence. But the crisis could provide a rare opportunity for cooperation between China and the United States. Qi Zhenhong, China’s ambassador to the South Asian island state, met with his ...