(Top monument in Colombo)
Economic crisis in Sri Lanka is not a sudden outburst. It was started from 2010. By the year 2019 the foreign debt reached an alarming 88% of the GDP. The Covid 19 pandemic induced the situation to be worsened. External liability of the island country reached to 101% of the GDP in 2021. Under the 2017 agreement, Sri Lanka Port Authority created Hambantota International Port Group which then became a joint venture after China Merchant Port brought an 85% stake in HIPG as part of the Chinese Company's US$ 1.12 billion investment into the port. This has terribly affected the Sri Lankan economy. In fact China's intention was not to help the island country but create a naval base close to India. More than that it is a clear example of mismanagement of a country by it's own government.
All that is over. Now, Sri Lanka cannot stand by it's own, but need a helping hand of someone else. Can India help Sri Lanka to get over this economic disarray? It is not a matter in which the people to say something. It is the government to take the decision after considering all pros and cons of the subject. However, if we decide in favour of the matter, we must ensure that it should be India alone; no other countries should join hands with us. Further to this, China should be allowed to move out of all Sri Lankan affairs.
(Indebted to Web sources for data and image)
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