https://news.yahoo.com/crisis-hit-sri-lanka-defaults-075709470.html
China should have bailed out the country again with tougher conditions, and start milking it again pole pole for decades. These chinks are very impatient in their rat race to dominate the world.
EU bailed out Greece, it didn’t let reach a point of no return, and now its Germany biatch.
Sri Lanka defaulted on its $51 billion foreign debt Tuesday as the island nation grapples with its worst economic crisis in memory and widespread protests demanding the government’s resignation.
Acute food and fuel shortages, alongside long daily electricity blackouts, have brought widespread suffering to the country’s 22 million people in the most painful downturn since independence in 1948.
Panjeets kule Sri Lanka wanajimaliza.
Doesn’t work like that. China is not in the business of bailing out low IQs.
Why China and not Japan or other multilateral institutions which are owned more?
[ATTACH=full]432100[/ATTACH]
This is the actual debt profile from the government website
http://www.erd.gov.lk/index.php?option=com_content&view=article&id=102&Itemid=308&lang=en
Pia sisi chuma yetu iko motoni. Tafuta lube its going to be rough bumpy road. Tulikopa kila mahali doing white elephant projects.
[I]China is Sri Lanka’s largest bilateral lender and owns about 10 percent of the island’s public debt, followed by Japan and India.
The government has borrowed heavily from Beijing since 2005 for infrastructure projects, many of which became white elephants.
Sri Lanka also leased its strategic Hambantota port to a Chinese company in 2017 after it became unable to service the $1.4 billion debt from Beijing used to build it.
This sparked concerns from Western countries and neighbour India that the strategically located South Asian nation was falling victim to a debt trap.[/I]
Chinks are then the most hostile of the lenders, notwithstanding the amount.
Western propaganda.
All the suffering going on in Srilanka currently is also western propaganda?
Why are you looking at bilateral lenders only. @Sambamba ameweka debt profile hapo. Why focus on the 10% Chinese debt and fail to acknowledge the other 90%. Anyway propagandists must propagandize. Funda.
Niaje @patco, from @Sambamba pie chart, you can see China is the largest bilateral lender. Between a shylock and bank, who will come after his money with the most vengeance?
Usijali … Hii inchi niya … “Her Royal Majesty”.
I have said it here before …
All African and Asian banana republics are all potential Chinese Debt Trap victims …
The Chinese do not just want your raw materials …
They also want your bodies , your minds and those of you children as well … :D:D
How now?
Today you have to queue for fuel.
Who knew of such a time?