Sri Lanka leaned towards China during the heyday of politician ... The island nation announced an unprecedented foreign debt default in 2022. A few months later, severe shortages of fuel and ...

Developing countries owe billions to China, which threatens to undermine poverty reduction efforts and fuel instability, ...

China is aiming to boost its economic collaboration with Sri Lanka. Chinese Minister of Commerce Wang Wentao reaffirmed China ...

China is the largest bilateral creditor to Sri Lanka, which in May 2022 became the first Asian lower-middle income country to default on its sovereign debt in two decades. Chinese loans had ...

He then travelled to China, which is also the island's largest single lender. Beijing was the first to restructure its loans to Sri Lanka after the country declared a sovereign default in April ...

Western media claim that it is China that has forced Sri Lanka into crisis through is a policy of debt trap, by lending it more than it can pay back and then getting it to default, so acquiring ...

The crisis has culminated in Sri Lanka's starkest crisis and first debt default since independence ... middle-income country and did not qualify. China automatically provides debt relief alongside ...

In others, like Sri Lanka, India had tried to build on old ties with new deals, such as plans to upgrade the port of Colombo.

India, which has strong cultural ties with Sri Lanka, and China have competed for influence in Colombo ... into freefall due to a severe shortage of dollars that forced it to default on its foreign ...