Link
m.timesofindia.com
critics have already sounded off on the project becoming a "hidden debt trap".
- Biggest bilateral lender - China is the government's biggest bilateral lender and owns at least 10 percent of its $51 billion external debt.
But analysts believe the true number is substantially higher if loans to state-owned firms and Sri Lanka's central bank are taken into account.
The borrowing contributed to Sri Lanka's dire fiscal predicament, after years of taking loans to cover spiralling budget deficits and to finance the imported products needed to keep the island's economy ticking over.
China-backed projects testament to Sri Lanka's mismanagement - The Times of India
South Asia News: An airport without planes, a revolving restaurant with no diners, a debt-laden seaport -- Sri Lanka's economic crisis has been exacerbated by Chinese-
m.timesofindia.com
critics have already sounded off on the project becoming a "hidden debt trap".
- Biggest bilateral lender - China is the government's biggest bilateral lender and owns at least 10 percent of its $51 billion external debt.
But analysts believe the true number is substantially higher if loans to state-owned firms and Sri Lanka's central bank are taken into account.
The borrowing contributed to Sri Lanka's dire fiscal predicament, after years of taking loans to cover spiralling budget deficits and to finance the imported products needed to keep the island's economy ticking over.
