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

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

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.Dr. Karunasena Kodituwakku, Sri Lanka’s ambassador in Beijing since 2015, also rejected the concept of “debt-trap diplomacy”, while admitting debt pressure on the country, known as “the Pearl of the Indian Ocean”, was huge.“Fortunately during 2018 we were able to handle…

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By | 2019-04-22T10:30:21+00:00 April 22nd, 2019|Headlines|Comments Off on Sri Lanka rejects fears of China’s ‘debt-trap diplomacy’ in belt and road projects