Colombo: India has shown its readiness to assist Sri Lanka by all means, which has been in an economic crisis due to being stuck in the trap of Chinese debt. Foreign Minister of India S. Jaishankar emphasised it during his visit to Sri Lanka. Moreover, the Foreign Minister of Sri Lanka has expressed gratitude towards India by saying that India has greatly assisted his country. China worries that this would strengthen India’s cooperation with Sri Lanka and increase India’s influence over Sri Lanka. Hence, China has announced that it would take the initiative to assist Sri Lanka through the International Monetary Fund (IMF). Besides, China has also shown readiness to restructure the loan given to Sri Lanka earlier.
The Export-Import Bank of China (Chexim – China Exim Bank) sent a letter to Sri Lanka, showing readiness to restructure the loan taken by Sri Lanka. Sri Lanka had demanded the same from China several times earlier, but China rejected it then. Besides, China had given Sri Lanka huge loans at high-interest rates earlier. There were warnings from the economists that this loan for infrastructural development projects would be unviable and fatal for Sri Lanka. But the government of that time in Sri Lanka ignored these warnings.
Later, the Sri Lankan economy descended under the burden of this debt, and there was chaos in Sri Lanka. The country was in a state of collapse, getting trapped in borrowing from China. It was time for the leader Rajapakse, who led Sri Lanka to the abyss by taking loans from China, to flee the country. In such a situation, the new government of Sri Lanka has been trying to rescue the country, and India has provided all possible assistance to Sri Lanka. While the Sri Lankan economy looks promising, China has become restless. Especially the positive results of the Indian aid to Sri Lanka have been seen, and the Sri Lankan leaders and people have been thanking India for this. Due to this, China has shown readiness to restructure the loan given to Sri Lanka, and the carrot on a stick of IMF loan assistance has also been shown to Sri Lanka.
मराठी हिंदी
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