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Sri Lanka "Crisis from the debt of Chinese projects"? Ambassador to China: No basis, the West is the main "creditors"

After the protests broke out earlier this month, Sri Lanka, which was in a economic crisis, was seeking to solve its serious debt problems. The Sri Lanka Ambassador to China Palita Khoven said in an exclusive interview with the Global Times reporter on the 15th that the World Bank, Asian Development Bank and Western institutional investors are currently the largest creditor of Sri Lanka, and the West's hype of China's "debt trap" There is no factual basis. Costa also said that Sri Lanka hopes that the World Bank, Asian Development Bank and other institutions can propose a package plan to solve the debt problem, and at the same time call for partners including China to provide more help.

Photo by Sri Lanka Ambassador to China

"We are now negotiating as the organization of bankruptcy countries and the International Monetary Fund." Sri Lanka ’s then Prime Minister and the Temporary President Victor Masinger said at the beginning of the month, which also clearly clearly clearly clearly states that Sri Lanka's current status is — -The national bankruptcy. According to foreign media reports, the total foreign debt of Sri Lanka is about $ 51 billion, but there are very few foreign exchange reserves available, and the country is facing serious non -debt issues.

The Sri Lanka Ambassador to China, Kokhina, told the Global Times reporter that the relevant personnel of the International Monetary Fund visited Sri Lanka at the end of last month and conducted a "satisfactory discussion" with Sri Lanka on debt issues. A team of legal consultant and a team of debt restructuring. " Kokhina said that the discussions with the International Monetary Fund are still in a preliminary stage. Once the Srinker government came to power, I believe that a new round of meetings will soon be held.

Costa said that Sri Lanka's largest creditors include Asian Development Bank, Bank of World Bank and institutional investors. "We owe Western institutional investors a lot of money, including Wall Street," Kokhina said that Sri Lanka hopes that the World Bank and Asian Development Bank can propose a package plan to help the country solve debt problems. "We also encourage including India, Japan and Japan Bilateral partners, including China, provide more assistance. We need the help of friends to get rid of the dilemma in front of our eyes. "

Since the beginning of this year, the economic situation of Sri Lanka has deteriorated rapidly, and severe shortages such as grain, oil and gas, and drugs have risen sharply, and inflation has continued to intensify. According to Kokohina, Sri Lanka currently does not have enough cooking for natural gas, fertilizer, fuel, diesel, drugs, and even food inventory. This has a huge challenge for the Sri Lankans' meals, transportation, medical care, and upcoming preparation.

On July 16, 2022, a hawker sold snacks on the beach.

Costa mentioned that China has provided a series of aids to Sri Lanka, especially the rice provided by China is reminiscent of the "Miclin Agreement" signed by the two countries in the 1950s.

According to news from the Ministry of Foreign Affairs of China, from April to May this year, the Chinese government announced that it provided Sri Lanka with a total of 500 million yuan in emergency humanitarian assistance, which was the largest unpaid assistance since the outbreak of the Sri Lanka Economic and People's Livelihood crisis. On the 14th of this month, China's emergency humanitarian aid in Sri Lanka's second batch of food was successfully transferred.

On the morning of July 14th, the Chinese Embassy in Sri Lanka and the Ministry of Education held the second batch of the second batch of food (1,000 tons of rice) to the Sri Lanka's emergency humanitarian assistance. Partially attended. Picture source: China Embassy in Sri Lanka

After the debt crisis in Sri Lanka, some foreign media attributed this to some large -scale projects in China in Sri Lanka, such as the Port Castle City of Colombo and Hangban Tota. In an interview with the Global Times reporter, Costa said that the reports of these foreign media were "looking for an example of any opportunity to criticize China", "we need to distinguish the facts carefully from publicity."

Cosner said that many Western media referred to Hangban Tota as the "debt trap" project, which is a serious exaggeration. There is no factual basis behind this allegations. Costa also added that a large number of ships have used the port, and related businesses have developed rapidly, and this large -scale project is difficult to return to the book within two or three years, and some of them take several years to bring profits.

Related data show that China holds about 10%of Sri Lanka's total foreign debt. Among the about $ 7 billion of foreign debt that Sri Lanka needs to repay this year, about $ 1 billion belongs to China.

Foreign Ministry spokesman Wang Wenbin said on the 15th of this month that as a friendly neighbor, China has always paid close attention to the difficulties and challenges facing Sri Lanka, and has also helped Sri Lanka within the scope of its ability. After the Sri Lanka announced the termination of foreign debt, the Chinese financial institution immediately took the initiative to negotiate with the Sri Lankan to properly handle the debt involved in China and help the Sri Lankan to respond to the current difficulties. China is willing to work with relevant countries and international financial institutions to continue to respond to current difficulties, alleviate debt burdens, and achieve a positive role of sustainable development.

On the 9th of this month, the crisis of the economic and people's livelihood led to the outbreak of Sri Lanka's capital in Colombo. Subsequently, President Rajapaksa announced his resignation, and Prime Minister Vikra Marinha took office as an interim president. According to reports, the Sri Lankan parliament will be elected to the new president on the 20th of this month, and the new president will be responsible for the establishment of the government participating in each party.

Kokhina told the Global Times reporter that he believes that no matter who is in charge of the government after the election, he will continue to maintain a good relationship with China."The foundation of Scholarship is very solid, and the two sides have established strategic partnerships. China is our largest trading partner and major investor." Costo said that he hoped that China would continue to be a good friend of Sri Lanka.Cos also said that when the domestic situation is stable, the "Belt and Road" initiative will still be crucial to Sri Lanka's economy.First, this means that foreign exchange will flow into Sri Lanka; second, foreign direct investment will create more employment.In this process, Sri Lanka's economy will be restored.Cohewon revealed that the embassy is encouraging some Chinese renewable energy companies to conduct business in Sri Lanka.In addition, the embassy also received a consultation from a large -scale steel company in China, hoping to establish a steelmaking factory in Hanban Tota.Sri Lanka also plans to promote more infrastructure projects, such as light rail construction.

Source: Global Times-Global Network/Zhao Jueyi Li Xuanxuan Lin Xiaoyi

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