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"Over all, around 90 percent of the country’s revenues goes to servicing debt. Even a new president who took office in 2015 on a promise to curb Chinese influen
by virtuabhi 9y ago
"Over all, around 90 percent of the country’s revenues goes to servicing debt. Even a new president who took office in 2015 on a promise to curb Chinese influence succumbed to financial reality."
90% of Sri Lanka's revenues goes to servicing Chinese debt? I find this hard to believe. Any references?
- crishoj 9y agoThe quote doesn’t imply that all the debt is Chinese.
- pravinva 9y agoIt's a problem only if it's denominated in foreign currency.likely
- rgbrenner 9y agonot to china.. total: http://southasianmonitor.com/2017/01/24/sri-lankan-governments-90-revenue-goes-debt-repayment/ http://southasianmonitor.com/2017/01/24/sri-lankan-governmen... https://www.forbes.com/sites/wadeshepard/2016/09/30/sri-lankas-debt-crisis-is-so-bad-the-government-doesnt-even-know-how-much-money-it-owes/#4371aa064608 https://www.forbes.com/sites/wadeshepard/2016/09/30/sri-lank... http://newsfirst.lk/english/2016/07/failed-large-scale-projects-sink-nation-debt/143319 http://newsfirst.lk/english/2016/07/failed-large-scale-proje...