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Wickremesinghe: Sri Lanka May Return to Growth By Year-end

  • #Economic conditions & trends
  • #Sri Lanka
  • #COVID-19
  • #Finance
  • #Money
story
FEB 2023
Image copyright: reuters
story last updated FEB 2023

The Spin

Anti-China narrative

Despite Western creditors to Sri Lanka being fully committed to the debt restructuring process, the international effort to rescue the island nation could be delayed or complicated as China, whose lending accounted for about one-fifth of Sri Lanka's public debt last year, remains unilateral in its decision not to join them. Beijing's attitude will ensure the island nation remains trapped in unsustainable amounts of debt.

Bloomberg

Pro-China narrative

China's share in Sri Lanka's external public debt is less than 10%, and Beijing has provided an extension on the debt service due in 2022 and 2023. Nevertheless, the West continues to use China as an excuse to evade its primary responsibility in reducing the debt burden for the developing world, trying to force Beijing to accept Western rules, political demands, and conditions on debt relief.

Global Times

Establishment split

CRITICAL

PRO

Sri Lanka to keep ‘middle-income’ status, seek concessional loans
Al JazeeraJUL 2022

More neutral establishment stance articles

Sri Lanka cabinet approves downgrade to ‘low income country’
One AmericaJUL 2022