China to Rescue Sri Lanka From its Debt Crisis

Sri Lanka is facing its worst economic crisis since its independence in 1948. With power cuts and a shortage in food and fuel, prices of consumer goods have gone up. The Consumer Price index increased by 19%, which is the fastest in Asia. The country is in a dark hole with ongoing protests to remove its current government. The Sri Lankan government has appealed to many countries and international organizations to aid them in this crisis until IMF sent its help.

China to Aid

With the ongoing crisis, the island nation has mostly looked up to China for its financial aid. But as Sri Lanka approached IMF for a bailout without informing China first, China hesitated. They warned that the Sino- Lankan bilateral relations would depend on the response of the IMF. After the visit of the Chines...

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