sri-lanka

Sri Lanka Want To India’s Help Pay China’s Debt – Free PDF Download

 

SOME BAD NEWS FOR INDIA

  • In their talks, India also pushed the Sri Lankan side to expedite clearances for two big infrastructure projects that  India is undertaking – the Mattala airport in  Hambantota and the Eastern Container Terminal off  Colombo which India is developing together with Japan.
  • The Rajapaksa government earlier had leant heavily towards China and given the Hambantota port to them. In the  intervening years, India has managed to get development  rights to Mattala airport, close to the Hambantota port and  the ECT.

WHAT SRI LANKAN PM SAID IN AN  INTERVIEW TO THE HINDU

  • We didn’t discussed the Trinco projects, but we did talks about the Eastern Terminal [in Colombo] which India and Japan are  jointly investing in, and the LNG terminal.
  • Whatever was signed [in 2017] was not even pursued by the last President [MRS Sirisena] actually rejected all  the projects PM [Wickremesinghe] had signed. We are not  responsible for those projects. The Mattala [airport] project  is also out. Our government has a firm policy on not allowing  any national resources to be given to foreign control. – Sri Lankan  Prime Minister

MATTALA AIRPORT

  • US$209 million were spent on the  project, with $190 million  provided by  the Chinese  government  via the Exim  Bank of

INDIA WAS INTERESTED IN BUYING  MATTALA AIRPORT

SET BACK FOR INDIA

  • According to Sri Lankan PM – India will not be getting the Mattala Airport  as Sri Lanka is opposed to selling “national assets”

BUT SRI LANKA REQUESTED INDIA’S HELP IN ANOTHER WAY

  • Sri Lanka is currently facing a mammoth challenge in the form of domestic and foreign debt of US $60 billion, under which the Sri Lankan  economy is currently reeling.
  • $5 billion payment per year

SRI LANKA WANTS INIDAN HELP

  • Last year, Gotabaya Rajapaksa had visited India in his first official visit to any country  after getting elected as Sri Lanka’s
  • New Delhi had then extended a US $450 million in soft loan to Sri Lanka.

WHAT SRI LANKAN PM SAD NOW IN  FEB 2020

  • This is something we discussed with the Indian government as well, and have asked if we could get a moratorium on all  loan repayments for three years, until we can revive the
  • If the Indian government takes this step, then other governments might agree to do the same thing, including  The previous government took so many loans, they  beggared the economy, and it is a mess. It all depends on the  stand India takes.

SOME HOPES ON HAMBANTOTA PORT

  • Sri Lankan Prime Minister did say that Sri Lanka wants Hambantota Port  back from China and they will raise  this issue when the Sri Lankan PM  visit China

LARGER QUESTION – SHOULD INIDA  BAIL OUT SRI LANKA?

  • India helped Maldives to manage its Debt in 2019

 

 

 

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