We are not responsible for this situation in Sri Lanka. . Illuminated China

Uncategorized

International

oi-Mani Singh S

Published: Thursday, July 28, 2022, 23:11 [IST]

Google Oneindia Tamil News

Beijing: China has explained that we are not responsible for the current economic crisis in Sri Lanka.

Sri Lanka is facing an unprecedented economic crisis. Due to lack of foreign exchange, it is struggling to import even essential goods.

The people there suffered a lot due to shortage of petrol and diesel. Sri Lanka’s economy went into dire straits without even essential medicines.

  Chess Olympiad.. Prime Minister Modi coming to Chennai.. Police gathered.. 5 layers of security Chess Olympiad.. Prime Minister Modi coming to Chennai.. Police gathered.. 5 layers of security

  700 million dollar loan assistance

700 million dollar loan assistance

Sri Lanka was reeling under severe financial crisis after declaring bankruptcy due to inability to repay foreign loans. In such a difficult situation, Sri Lanka was given a loan by its neighbor India. India provided a $700 million credit assistance program, under which it helped Sri Lanka to import essential commodities, including fuel. But China, which is investing heavily in Sri Lanka, has not helped as much as expected. Because the Rajapakse brothers who were in power in Sri Lanka opened the door to Chinese investments.

  China refused

China refused

In particular, Sri Lanka leased Ampantota port to China for 99 years. This action of Sri Lanka caused India great displeasure. Many such projects have been awarded to Chinese companies. Similarly, countries including the United States have criticized that China has pushed Sri Lanka into a financial crisis by giving loans at high interest rates. There were also reports that China has refused to give concessions to Sri Lanka’s debt, with Chinese loans amounting to 10 percent of Sri Lanka’s total debt.

  Criticism

Criticism

In this context, US official Samantha Power gave an interview to reporters in Delhi today, criticizing China for giving high interest loans to Sri Lanka and putting Sri Lanka in a debt trap. In this situation, the spokesperson of the Chinese Foreign Ministry, who attended the press conference today, was questioned about this.

  Provided long term loans

Provided long term loans

Responding to this, Lijian said that real cooperation between China and India was carried out in Sri Lanka with scientific planning. China provided long-term loans to Sri Lanka at low interest rates. It played an important role in improving Sri Lanka’s infrastructure and quality of life. The global economy and financial markets were hit hard by the sudden US hike in interest rates. A number of arbitrary actions by the United States also affected the industrial supply chain. Due to this, the prices of energy sector, food items and other commodities also increased badly,” he said.

English summary

China has explained that we are not responsible for the current economic crisis in Sri Lanka.

Story first published: Thursday, July 28, 2022, 23:11 [IST]


#responsible #situation #Sri #Lanka #Illuminated #China

Leave a Reply

Your email address will not be published.