Now Srilanka now has only 4 billion $ in forex reserves
Sri Lanka's forex reserves dropped 452.6 million US dollars in May 2021 to 4,018.1 million US dollars, official data showed amid financial account pressure and the use of modern monetary theory.economynext.com
it’s ok mate, them going bankrupt is a much bigger problem to deal with."A glorious new chapter in the multi-faceted partnership between India and SriLanka! An agreement extending US$ 100 million Line of Credit to #lka for solar energy projects was exchanged today in the presence of Hon'ble President H E @GotabayaR @MFA_SriLanka @PresRajapaksa," Indian High...economictimes.indiatimes.com
They are demanding a billion dollar currency swap with India but they will sleep with China and call us names.
Their bond yields seems insanely high.
China will start same policy as used in Pakistan , investment for china centric interests , bullying your government , building chinese colonies and malls for their use , bullying your people , using your land for acting against us in our backyard .why so?
Rajafaksa f"ckers have already ruined the country.. hope they won't have any chance by 2024.....China will start same policy as used in Pakistan , investment for china centric interests , bullying your government , building chinese colonies and malls for their use , bullying your people , using your land for acting against us in our backyard .
Basically making a pakistan out of you , too many investment with too little jobs
There was the burden of war dept. I think the gov. fell for thatA personal conspiracy of mine regarding China Sri Lanka port deal.
Sri Lanka took massive loans to build some chinese projects in their country knowing they have to pay the money back. Now individuals can be stupid enough to not calculate proper EMIs of the loan and how they will pay back, but a gov has many institutions at their disposal who do feasibility studies, economic studies, etc. before any such undertaking. They have clear idea of how much money they will generate and how they will payback.
So how Sri Lanka fell into China's debt trap?
My thinking is they didn't. As per my theory, Sri Lankan leaders had full understanding of what they were doing. They were selling their sovereignty for money but they can't do it publicly so they made deal with China in which they signed up for a loan that they knew they can't pay back so in return China took over their port as part of the deal. So Chinese got what they want and corrupt Sri Lankan leaders got money.
So it wasn't that chinese took advantage of gullible Sri Lanka but rather a deal of sovereignty in disguise by a corrupt leadership.
Couptaji talked lot of sense in this video. Analysis bang on except for his fascination with Kerala healthcare system.
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