Subscribe
    World

    Sri Lanka China Debt: Sri Lanka, France, Japan and India caught in China’s debt trap, preparing to crack down on the dragon

    BhagyashreeBy Updated:No Comments2 Mins Read
    Colombo:France, Japan and India have joined hands to rescue Sri Lanka trapped in China’s debt trap. After the launch of the scheme last week, France has asked the lending countries to ensure ‘transparency’. Sri Lanka is buried under a mountain of debt and has defaulted. Due to this, in the last few months, the Rajapaksa family had to step down from power. Due to non-availability of dollars, Sri Lanka also faced a lot of difficulties in the supply of oil, food and medicines. Emmanuel Moulin, Director General of the Finance Department of France, said that we are ready to coordinate with other creditor countries. He said that the lending countries should start restructuring the debt in a coordinated manner so that transparency can be ensured. Earlier last month, the IMF approved a program of 2.6 billion euros to help Sri Lanka come out of the biggest economic crisis in seven decades.
    Hambantota, now 1 lakh monkeys… how much ‘slave’ Sri Lanka will fall to repay China’s debt, Dragon’s cruel plan

    President Rajapaksa had to flee the country

    India has also come forward to help Sri Lanka. Indian Finance Minister Nirmala Sitharaman said that we believe that such cooperation in debt restructuring is important to ensure transparency and equity in the treatment of all lenders. Earlier there were massive protests in Sri Lanka and President Gotabaya Rajapaksa had to flee the country. France, Japan and India are going to start discussions without delay.

    The Sri Lankan government hopes to strike a deal by May. Sri Lanka has a total debt of 6.4 billion Euros from many countries of the world. China has the maximum debt in this. China’s debt is 10 percent of Sri Lanka’s total foreign debt. Japan’s Finance Minister has said that this initiative of France and two other Asian countries will encourage other creditor countries and talk about Sri Lanka’s debt crisis.
    China Taiwan War: China starts preparations for war, recruitment of soldiers fast, Dragon will repel America with super destructive weapon

    China is playing tricks against India

    The Japanese minister said that if China joins it, it would be a very good step. Experts say that China’s personal interest is hidden in its move. China is not helping Sri Lanka in the name of help. China wants to set up a radar station in Sri Lanka by getting trapped in the debt trap, which is a threat to both India and America.

    Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social cause and entrepreneurship is her forte.

    Related Posts

    Comments are closed.