Tamil Information Centre
User Name:   
Password:   
  Remember Me  
Sign up  |  Forget password
Home   
Search
    Contact us
US Concerned Over Debt Burdens On Sri Lanka From Chinese Loans
Published Date: 09/09/2017 (Saturday)

by Taboola 

Sri Lanka is struggling to repay Chinese loans, and recently signed an agreement to give a state-run Chinese firm a stake in the strategic Hambantota port as a way of paying down some of that debt.

The US has expressed concern over the "unsustainable debt-burden" on Sri Lanka due to non-concessional loans from China.

China is investing billions of dollars in infrastructure development in Sri Lanka. Sri Lanka is struggling to repay Chinese money, and recently signed an agreement to give a state-run Chinese firm a stake in the strategic Hambantota port as a way of paying down some of that debt.

Under the $1.1 billion deal, the Chinese company will develop the deep-sea port of Hambantota.

"China is providing non-concessional loans that promote unsustainable debt burdens, which I think are increasingly now of concern to the Sri Lankan people in the government," Alice Wells, Acting Assistant Secretary of State for South and Central Asian Affairs told a Congressional subcommittee yesterday during a hearing on South Asia.


The US has notably reduced its assistance to Sri Lanka by 92 per cent.

"In Sri Lanka, we're the largest grant provider of assistance. China is providing non-concessional loans that promote unsustainable debt burdens, which I think are increasingly now of concern to the Sri Lankan people in the government. But what we bring to our relationship are multiple tools," she said.

While there has been a significant percentage reduction in US aid to Sri Lanka, Wells said the US is using its tools to reinforce a message of reform, and to bring Sri Lanka into a space where they too will institutionalise the principles of the Indo-Pacific -- freedom of navigation, transparency, non-militarisation humanitarian assistance and disaster relief at its core.

Source: Press Trust of India

Share on Facebook


 Latest 25 News/ பிந்திய 25 செய்திகள்:
Sri Lankan Tamil parties pull in different directions Posted on July 19th, 2018
Published Date: 09/09/2017 (Saturday)
Number of modern slaves estimated 'hidden' in UK rises tenfold to 136,000
Published Date: 09/09/2017 (Friday)
Push No One Behind
Published Date: 09/09/2017 (Friday)
MR to miss Parliament debate on New York Times allegations today
Published Date: 09/09/2017 (Thursday)
Kleptocracy of Sri Lanka
Published Date: 09/09/2017 (Thursday)
Ukrainian border guards detain illegal migrants from Sri Lanka, India, Bangladesh
Published Date: 09/09/2017 (Thursday)
Disabled Soldiers’ Association seeks Supreme Court intervention
Published Date: 09/09/2017 (Thursday)
New Constitution: TNA seeks int’l backing for its cause
Published Date: 09/09/2017 (Thursday)
Sri Lanka charges man deported from family by Australia
Published Date: 09/09/2017 (Wednesday)
Ian Paisley could face byelection after breaking Commons rules
Published Date: 09/09/2017 (Wednesday)
Social Media – the New Testing Ground for Sri Lanka’s Freedom
Published Date: 09/09/2017 (Wednesday)
A/Level tuition classes banned from 31st July
Published Date: 09/09/2017 (Wednesday)
Sri Lanka has taken important steps to break the link between power and corruption – President tells OGP Global Summit
Published Date: 09/09/2017 (Wednesday)
Memo to Sri Lanka Office of Missing Persons (OMP) By Tamil Mothers of Disappeared About Why They Lack Confidence In OMP
Published Date: 09/09/2017 (Tuesday)
New Constitution : ‘Zero draft’ ready to go
Published Date: 09/09/2017 (Monday)
Hindu group protests against Muslim teachers wearing abaya
Published Date: 09/09/2017 (Monday)
India wants Sri Lanka to expedite joint projects
Published Date: 09/09/2017 (Saturday)
Rights groups slam Cardinal
Published Date: 09/09/2017 (Saturday)
Shocking, shameful; about 1,000 abortions daily in Sri Lanka
Published Date: 09/09/2017 (Saturday)
TNA seeks more Thai investments
Published Date: 09/09/2017 (Saturday)
Army in UN missions: Lebanon deployment extended pending HRCSL vetting of fresh contingent
Published Date: 09/09/2017 (Saturday)
Navy is warned to be alert on possible submarine attacks threats – PM
Published Date: 09/09/2017 (Saturday)
3rd International Housekeepers Summit 2018 records overwhelming response with over 300 hospitality delegates from 14 countries
Published Date: 09/09/2017 (Saturday)
Fears that Sri Lanka death penalty moves will hit GSP+ access
Published Date: 09/09/2017 (Thursday)
Sushma Swaraj’s gumption and India’s abiding arrogance
Published Date: 09/09/2017 (Thursday)
Donate
Support our work to bring rights to life in any way big or small
 Amount:

Donate using PayPal

Select dates to view
past and future events
<<<Jul - 2018>>>
SunMonTueWedThuFriSat
1
2
3
4
56
7
8
91011
12
13
14
1516171819
20
21
22
23
24252627
28
29
3031    
 Stand up for Rights and Justice
Trump’s child hostages
Read more...
Take Action
Set Noura Free -- sign now!
Tamil men accuse continuing torture in Sri Lanka Take a stand against torture and urge UN Human Rights commission for human rights to investigate
Urgent: They’re beheading children
Latest Publication
Armament for Repression: Militarisation of Sri Lanka Conference Report:

Armament for Repression: Militarisation of Sri Lanka

Read more...

Thiruvalluvar
About us
Site Help
Getting in touch
Other
Facebook Youtube twitter
Sitemap  |  Privacy Policy  |  Terms and Conditions
Copyright © 2018 ticonline.org, All rights reserved.