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another_armchair

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Now Srilanka now has only 4 billion $ in forex reserves


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.
 
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ezsasa

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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.
it’s ok mate, them going bankrupt is a much bigger problem to deal with.
 

Lonewolf

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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
 

HitmanBlood

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A 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.
 

HeinzGud

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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
Rajafaksa f"ckers have already ruined the country.. hope they won't have any chance by 2024.....
 

HeinzGud

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A 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.
There was the burden of war dept. I think the gov. fell for that
 

shashankk

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@HeinzGud
Is what coupta saying true?
usually when coupta gets this excited, it is not in India's self interest but rather some other major economy's interest.
Couptaji talked lot of sense in this video. Analysis bang on except for his fascination with Kerala healthcare system.
We should give them some food but no money should be given before extracting a pound of flesh. They have been mean to us and we should return the favor.
 

Tshering22

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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.
At this point, I think it is important to keep SL afloat. Otherwise, the CCP will just stroll in, make up some Chinese name for Sri Lanka, pull a map out of its @$$ and claim that it was a part of some ping ping pong dynasty 800 years ago. And Rajapakse would just buckle under that pressure. Another province to China on our southern flanks is the last thing we need. Afghanistan is already Chinese domain in the subcontinent; we don't want that to happen.

GOI can take a lot of advantage of this deal and compel SL to do things that would benefit us, including block further Chinese state investments into other projects, demand restructuring of their debts and also get favourable commercial/tax agreements for Indian companies. SL wants to play the big brother game? Let's see if they have the stomach for it. 😁
 

Tshering22

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India counters China in Sri Lanka with $700 million port deal

An Indian company entered into a $700 million deal Thursday to build a strategic deep-sea container terminal in Sri Lanka, officials said, in a move seen as countering China's rising influence in the region. The Sri Lanka Ports Authority (SLPA) said it signed an agreement with India's Adani Group to build a brand-new terminal next to a $500-million Chinese-run jetty at the sprawling port in the capital Colombo.

"The agreement worth more than $700 million is the largest foreign investment ever in the port sector of Sri Lanka," the SLPA said in a statement. It said Adani will enter into a partnership with a local conglomerate, John Keells, and the Sri Lankan government-owned SLPA as a minority partner. John Keells said it will have 34 percent of the company while Adani will have a 51 percent controlling stake in the joint venture known as the Colombo West International Terminal. The new container jetty will be 1.4 kilometres in length, with a depth of 20 metres and an annual capacity to handle 3.2 million containers. The first phase of the project with a 600-metre terminal is due to be completed within two years, the company said. The terminal will revert to Sri Lanka ownership after 35 years of operation.

Plans to allow India into the strategic Colombo port goes back several years, but they were scuttled in February when trade unions linked to the ruling coalition opposed giving New Delhi a partially built terminal within the port. Later, the government asked Indians to build a brand-new terminal adjoining the Chinese-operated Colombo International Container Terminal (CICT).

Colombo is located in the Indian Ocean between the major hubs of Dubai and Singapore, meaning influence at its ports is highly sought after. Two Chinese submarines berthed at the CICT in 2014, sparking concerns in India which considers neighbour Sri Lanka to be within its sphere of influence. Since then, Sri Lanka has refused permission for more Chinese submarines to be stationed there.

In December 2017, unable to repay a huge Chinese loan, Sri Lanka allowed China Merchants Port Holdings to take over the southern Hambantota port, which straddles the world's busiest east-west shipping route. The deal, which gave the Chinese company a 99-year lease, raised fears about Beijing's use of "debt traps" in exerting its influence abroad.

India and the United States have also expressed concerns that a Chinese foothold at Hambantota could give Beijing a military advantage in the Indian Ocean.
 

Tshering22

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Colombo, Dec 1 (IANS): Sarath Fonseka, Sri Lanka's former Army Commander and Presidential candidate, has warned that Sri Lanka which has fallen into Chinas debt trap would end up like Uganda, which had to give away their only international airport to China.

Fonseka, who led Sri Lanka's three-decade long civil war against Liberation Tigers of Tamil Eelam rebels to victory in 2009, said this in a Facebook post titled "Sri Lanka is being engulfed in Chinese debt trap that destroyed Uganda".

Drawing a parallel between Uganda's airport and Chinese-funded new airport built in Hambantota in southern Sri Lanka, he added that going beyond the country's foreign diplomacy, it has been made a slave of one camp and also have worked to achieve political and military ambitions of another state, and thereby let the country lose it's integrity and sovereignty.

"Just as what happened during the Rajapaksa's regime, the corrupt political leaders of Uganda, ignoring the national plan and priorities, had gone on with the constructions with commercial loans at high interest rates that attract commissions," alleged Field Marshal Fonseka.

"Instead of developing the Colombo Harbour, Hambantota harbour which was not so important project, is now owned by China and it is being used as a naval corridor in the centre of the Indian Ocean," the former military leader said.

"Hambantota harbour is being looked at as a Chinese Naval base by India, the US and other Quad countries. This is a serious threat to Sri Lanka's security. We would be able to see the result of these idiotic decisions during the definite power struggle in the region within next 60 to 80 months."

The opposition MP, Fonseka, who said with the way how Chinese Ambassador is being reacted like a "mad man for the dirt ship", the future is very clear and we have to rectify this situation in the future.
This Fonseka guy has been at odds with the Rajapaksas for a long time. He was apparently asked to step down by Mahinda himself during his pre-Modi tenure, when China was their chaddi-buddy. But his analysis is spot-on.

What are the chances that he is being encouraged by Doval himself? Fonseka would make a strong ally of India, though it might ruffle some political feathers of our Tamil brothers & sisters down south. After all, this guy led the LTTE war that caused some elements in the SL Army to commit warcrimes on innocent Tamil civilians.
 

shashankk

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https://www.daijiworld.com/news/newsDisplay?newsID=899442

This Fonseka guy has been at odds with the Rajapaksas for a long time. He was apparently asked to step down by Mahinda himself during his pre-Modi tenure, when China was their chaddi-buddy. But his analysis is spot-on.

What are the chances that he is being encouraged by Doval himself? Fonseka would make a strong ally of India, though it might ruffle some political feathers of our Tamil brothers & sisters down south. After all, this guy led the LTTE war that caused some elements in the SL Army to commit warcrimes on innocent Tamil civilians.
wasn't Fonseka put in the jail on some flimsy charges by Rajapaksha?
 

Tshering22

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wasn't Fonseka put in the jail on some flimsy charges by Rajapaksha?
Well, he is out and giving reports and statements like this. He is also a respected military figure in SL and people like him.

Chances are that he might contest elections against the Rajapaksas in 2024.
 

ezsasa

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Looks like SL is getting into some trouble this year.
irresponsible policies.
=========
‘There is no money left’: Covid crisis leaves Sri Lanka on brink of bankruptcy


Record money printing in 2021 as Central Bank-held Treasury bill stock tops Rs.1.4tn

 

Tshering22

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Looks like SL is getting into some trouble this year.
irresponsible policies.
=========
‘There is no money left’: Covid crisis leaves Sri Lanka on brink of bankruptcy


Record money printing in 2021 as Central Bank-held Treasury bill stock tops Rs.1.4tn

Sri Lanka is going the Venezuela way; printing more money than what it is worth in terms of value is the first step to economic abyss.

How long do you reckon we can keep bailing them out? Seems more like Rajapaksas are swindling the money and sending it offshore. They know that Lanka isn't stable and people's anger will burst against them soon.

Don't be surprised if the entire family takes refuge in some European country after a year or so. But SL will become an overseas territory of China if that happens. Also, we don't have the economic muscle to keep handing foldouts like how China does.
 

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