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Sri Lanka ruined by China’s ‘debt trap diplomacy’, Dragon did this to get strategic edge: Think Tank

The suppose tank stated, “However, when China took advantage of the situation to increase Sri Lanka’s debt burden, India helped by offering financial packages, including a $50 billion credit facility for gasoline imports and imports from India.” A credit score facility of $1 billion was included for imports of crucial merchandise.

As well as, India has remitted $2.4 billion via foreign money swaps, mortgage deferrals and different credit score strains, the assertion additional stated. Nonetheless, it was unable to avoid wasting Sri Lanka, which was fully enslaved by Chinese language debt and ultimately succumbed to it.

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