Repeated cycles of borrowing from capital markets, including the International Sovereign Bonds, have made them the largest source of foreign funding for Sri Lanka. The Asian Development Bank (ADB) is in second place with a 14.3% share, having lent $4.6 billion. Japan is at 10.9% and China at 10.8%, with each having lent about $3.5 billion each.
The rest of the debt is owned by countries such as India and international agencies including the World Bank and United Nations.”
Blaming China which has actually built a lot of infrastructure including the Norichcholai power plant that has given us electricity plants, BMICH, port city etc in Sri Lanka, unlike the US and EU which has NOT built anything but rather is asset stripping lands and Energy assests like the Yughadanavi power plant is absurd!
The US and its EU and its AUKUS friends are trying to sabotage the Chinese development projects with Hybrid Economic War against Lanka (2019 Ester attacks on Shangri La hotel) , beggering the island county and then blaming the Chinese for building something.. with the Fake News about “Chinese debt traps” and lets not forget that the Law was changed to make an American Citizen, Basil Rajapakse, who is corrupt the “Minister of Economic Disaster! Guess who was behind that one?
A NOTE from THUPPAHI: also see “Truthseeker”: “Sri Lanka’s Financial Crisis,”11 April 2022,