Sri Lanka not caught in a China debt trap, says ambassador to Beijing, as turmoil persists at home


Source: yahoo.com yahoo.com

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Sri Lanka is not caught in a debt trap by China, according to its ambassador in Beijing, as the Indian Ocean island nation seeks help to overcome its most severe economic woes in decades, a situation leading to public unrest and a political crisis for the government. Speaking with the South China Morning Post on Monday, envoy Palitha Kohona admitted his country was in a difficult situation and had asked for financial support to help it get through the spiralling economic crisis which had led the government to raise interest rates, devalue its currency and curb imports of non-essential goods....