Sri Lanka Attempts to Repair Relations With China Amid an Escalating Financial Crisis

[Sanchez]

That said.. Chinese also need to be more sensitive to domestic political compulsions in sovereign nations.. Putting all their eggs in to one basket case does not help their policies either, In most cases those basket cases are tin pot dictators abusing the good will of Chinese developments for their own corrupt agenda.. As in the case of Sri Lanka.. Democracy is fluid, China needs to make point of it

We ain't Americans to judge the rights or wrongs of another country. Chinese do business or support others on person to person basis. If China follows a policy like the US do you believe that we may do better than USA? No chance!

When it comes to corruption every country has more or less the same issue. China did not put all the eggs into one basket. China supported the legal government not particular political forces in SL. Whoever gets the power in SL should not try to push China around for a political agenda or deny the agreements made by previous administration with China. SL is still a friend of China but China will be more cautious than before...

LOL.... you cant be serious

China like pakistan because its "loyal" ? ..... its not even loyal to its own people, how on earth can it be loyal to anyone else ?

It's not for Indians to "understand", do you get it?

 

[HeinzG]

The article explains how Chinese loans created financial crisis

Why don't you go Mattala and see your airport

Let's forget Chinese loans for just now. What about the loans of ADB and IMF?

 

[jung41]

And the string of pearls tighten around Indias neck. Soon she will breath her last!

Sting of pearls will effect after pakistan is taken holly on lease by china just like gawder(guwaidii)

And the string of pearls tighten around Indias neck. Soon she will breath her last!

I urge China to put the acrimony of the past behind us and come and help us by adjusting the terms of the loans to make them more viable,” Sri Lankan Finance Minister Ravi Karunanayake said in an exclusive interview with the South China Morning Post on Sunday.

Sri Lanka is chock-full of Chinese investment, with nearly 70% of the country’s infrastructure projects funded and built by China — thereby leading to a near tripling of its foreign debt over the past five years

I will be quite happy to see pakistan pleading like this ..... de de de china de de allah ke naam pe dede

 

[Godman]

Let's forget Chinese loans for just now. What about the loans of ADB and IMF?

Man don't you know that majority of the loans given by IMF and ADB are low interest loans?
And before you ask me about Japan the JICA loans usually have a interest rate around 1% sometimes even less.

 

[HeinzG]

Man don't you know that majority of the loans given by IMF and ADB are low interest loans?
And before you ask me about Japan the JICA loans usually have a interest rate around 1% sometimes even less.

So what is your basis for claiming Chinese loans are higher than that of the IMF or ADB?

Utter BS.. Moneragala remains the most poorest district in the country only 2nd to Mullaitivu, And this after your god kings nephew was given the Uva province to be raped at his heart content for nearly a decade.. White elephants ? More like gargantuan white whales.. Mattala Air port, Where there were more wild peacocks flying about than planes, Hambantota port while actually not his brain child but a project that had been on the cards since the 1940's, Running at huge losses because in haste for your king to dance a jig at the opening date they forgot to blast the bed rock, Stopping mega ships entering the port.. Now at extra cost that needs to be removed, A cricket stadium middle of a jungle ? For the ego of his brats to prance around

10 years is not enough to undone the damage that has being done on Wellassa for couple of centuries.

Mattla is a part of the Greater Hambantota development project encompassing both the harbour and the airport. Therefore don't just cherry pick on the Mattla just because it's not as busy as BIA.

And you just try take the due respect for Mahinda for building the H'tota harbor that is making a profit. Such a hypocrisy. FYI it doesn't matter who thought of it first but the credit goes to the one who has completed the project.

I agree H'tota was opened prematurely but that doesn't mean it's useless? What are you smoking.

What was all this for ? For the benefit of the country ? Or to name all these things under his name unashamedly.. Even a public toilet was not spared and named after Mahinda Rajapaksa.. Did he pay for these from his pocket ? Or is he going to pay the loans and interests from his off shore bank accounts ? Only hero worshipping blind idiots swallow this crap..

And pls do not quote me again in regards to Sri Lankan politics, I'd rather watch a sitcom

Well do he has to pay for his pockets for things that he doesn't even use? Does he? It's public money that is used on public projects. He was being names because he initiated it. I think that's why you people hate him most. "Doing something" Am I right?

 

[Godman]

So what is your basis for claiming Chinese loans are higher than that of the IMF or ADB?

Do you even know what the IMF and ADB are?
IMF and ADB are supposed to give low-interest loans as much as possible and they don't freely give loans because you ask for them

10 years is not enough to undone the damage that has being done on Wellassa for couple of centuries

WTH does that has to do with this?

 

[Beast]

Sri Lanka should ideally play both the Chinese and Indians against each other and try to remain as neutral as possible. If I think from a Sri Lankan nationalist perspective that would be the best course of action. Do you agree?

At the end, SL will get nothing. You can't have both pies and still think you will be doing well.

 

[HeinzG]

More islander mentality. You can now see how China will completely disregard sri lanka. It is an irrelevant island. If you are talking about marime traffic, Atlantic and Pacific are two hotspots for ships and when it comes to Asia, now land routes are being built through China's silk road programme which means that they don't have to rely on sea routes to transport cargo. So a country like Sri Lanka will be even more irrelevant in the future.

What about US interests in Sri Lanka? What about Indian interests in Sri Lanka? Do you think those countries take us as a worthless piece of real estate?

The value of Sri Lanka is as relevant until the traffic flow thorough IOR is active.

Do you even know what the IMF and ADB are?
IMF and ADB are supposed to give low-interest loans and they don't freely give loans because you ask for them

What? Suppose to? Is that your basis. IMF is a trap. Moreover they don't just give loans for a profit. They use the loans to control the borrower according to their strategic demands. There are many examples through out the world.

WTH does that has to do with this?

Everything. The issue we face today have roots well extended back to 1815.

 

[Godman]

What about US interests in Sri Lanka? What about Indian interests in Sri Lanka? Do you think those countries take us as a worthless piece of real estate?

The value of Sri Lanka is as relevant until the traffic flow thorough IOR is active.



What? Suppose to? Is that your basis. IMF is a trap. Moreover they don't just give loans for a profit. They use the loans to control the borrower according to their strategic demands. There are many examples through out the world.

You just jump from question to another that are not relevant and even kids these days know those stuff and I sure that you even know the answer so don't waste my time.
Only thing you can do is ask some random questions to cover up what MR did .

ADB loans to Sri Lanka have a interest rate of around 2% and IMF is slightly higher but not as high as 6% given by China!

Everything. The issue we face today have roots well extended back to 1815

Typical blame other countries BS that are only good for idiots who think they can cover up the mess created by Sri lankans forever by blaming UK,West and India forever.

Don't waste my time with those stupid things, I wasted enough time by even replying to this nonsense. Better sleep than answe these questiions

 

[Jlaw]

Very well said and good advice, absolutely agree with you. Indeed that's a learning curve for China to understand on the dynamics of SL domestic politics, and its influence on investment. Well it does take sometime!

On the external debts, since the absolute amount combined (~$70B) is not too big I believe these debts can be restructured without much problem, let's not worry about that. The top agenda is those work-in-progress be turned into revenue generating assets, ASAP!

Bro, I don't know who your rich father is, but $70b (I'm assuming USD) is a lot of money for any country. A rich country like Canada doesn't even spend $70b on provincial infastructure.
The SL government is just crying because of its own incompetency to stop/stall projects where they already borrowed the money for. I'm sure there may be some leeway such as the call for them to start the projects while temporarily reduce or eliminate interest payments.

 

[Mamsalaphala]

It's not for Indians to "understand", do you get it?

Nobody understands the logic of giving a label of "loyalty" to a nation who bombs its own people and allows others to bomb its own people. Being Indian has nothing to do with it

 

[Saradiel]

Are you saying renewing strong relations with China is not a good thing or non aligned ? One thing though these idiots nearly bit off the hand that fed them in their quest to prosecute MR on corruption.. Good thing they realized that before major damage was done viz a viz China.. Morons like Mangala or Ravi K should not be anywhere close to national policies but then again we're talking about a third world democracies

No I merely tagged you because you were of the opinion that RW is balancing this properly and SL is treading non alignment policy...which we do not. Actually RW gover showed this trend since the very first day he became PM.

“In 2010, foreign debt was 36% of the GDP (gross domestic product),” Ekanayake told the Post. “By the end of 2013, it was about 65%, and is estimated to rise to 94% this year.”


WOW.... China literally OWNS Sri Lanka.

Discovering the joys of doing "business" with the Chinese.

This is wrong. In 2005 our debt ratio was 92% while it dropped to 75% in 2014 that is after, all the loans for infra projects.

Utter BS.. Moneragala remains the most poorest district in the country only 2nd to Mullaitivu, And this after your god kings nephew was given the Uva province to be raped at his heart content for nearly a decade.. White elephants ? More like gargantuan white whales.. Mattala Air port, Where there were more wild peacocks flying about than planes, Hambantota port while actually not his brain child but a project that had been on the cards since the 1940's, Running at huge losses because in haste for your king to dance a jig at the opening date they forgot to blast the bed rock, Stopping mega ships entering the port.. Now at extra cost that needs to be removed, A cricket stadium middle of a jungle ? For the ego of his brats to prance around

What was all this for ? For the benefit of the country ? Or to name all these things under his name unashamedly.. Even a public toilet was not spared and named after Mahinda Rajapaksa.. Did he pay for these from his pocket ? Or is he going to pay the loans and interests from his off shore bank accounts ? Only hero worshipping blind idiots swallow this crap..

And pls do not quote me again in regards to Sri Lankan politics, I'd rather watch a sitcom

One can blame MR for many of his useless projects and wastages but Mattala is a profitable venture and a good project.

If I am an investor looking to invest in the region, I would definetely not choose a country where my investment gets threatened because of government change.

Correct. The sad part is we didnt expect such a childish tactics from a party that was believed to be business friendly. This is a step taken by RW to appease the Americans and Dambadiva fellas

The article explains how Chinese loans created financial crisis

Why don't you go Mattala and see your airport

The financial crisis was created due to the bond issue in Feb this year. After the bond issue our foreign reserves dropped fast. That is the crisis this gover is now facing with.

Sri Lanka currently has many economic problems thanks to bad economic policies of the past and thats not the fault of China alone.

Again not only past, present as well.

Do you even know what the IMF and ADB are?
IMF and ADB are supposed to give low-interest loans as much as possible and they don't freely give loans because you ask for them



WTH does that has to do with this?

IMF and ADB put forward conditions that are strategically disadvantageous to us. I mean chinese dont care how our constitution look like, but the Americans and westerns have a big issue with it.

Typical blame other countries BS that are only good for idiots who think they can cover up the mess created by Sri lankans forever by blaming UK,West and India forever.

What SL has is a issue created by British.

 

[RisingShiningSuperpower]

Bro, I don't know who your rich father is, but $70b (I'm assuming USD) is a lot of money for any country. A rich country like Canada doesn't even spend $70b on provincial infastructure.
The SL government is just crying because of its own incompetency to stop/stall projects where they already borrowed the money for. I'm sure there may be some leeway such as the call for them to start the projects while temporarily reduce or eliminate interest payments.

$70 billion is nothing to a wealthy country like India. Modi-ji should cover all Sri Lankan debts.