Debt-trap Diplomacy

Infrastructure Financing in Sri Lanka: Lessons Learnt and Future Collaboration

Over the past decade, Sri Lanka has seen a steady rise in foreign debt, largely as a result of unsustainable infrastructural loans. This debt was exacerbated by the effects of the Covid-19 pandemic, with the highly remunerative tourism sector majorly impacted. In early 2021, the government was forced to declare a state of economic emergency amidst a distressing fall in the value of the Sri Lankan Rupee.

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