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:
TGTE Member refused entry Ratnabalam on banned Tamil Diaspora list Strong moves to refute deportation order
Published Date: 09/09/2017 (Sunday)
India capable of handling China's assertiveness along border: Army chief
Published Date: 09/09/2017 (Saturday)
India gives $45.27 million aid to develop KKS harbour in Sri Lanka
Published Date: 09/09/2017 (Saturday)
Trump's Pak outburst to aid China acquiring military base near Chabahar
Published Date: 09/09/2017 (Friday)
Is Japan out of sync with South Asia's concerns?
Published Date: 09/09/2017 (Thursday)
Not eyeing foreign territories to exploit resources: Narendra Modi
Published Date: 09/09/2017 (Thursday)
False Promises
Published Date: 09/09/2017 (Thursday)
UK parliamentarians meet with Sri Lankan military in Jaffna
Published Date: 09/09/2017 (Thursday)
Bond-scam probe is turning democracy into ‘demo-crazy’…
Published Date: 09/09/2017 (Wednesday)
When a safe haven turns into nightmare… Girls of Darun Nusra allege continued abuse
Published Date: 09/09/2017 (Wednesday)
Election Monitor condemns polls law violations at Temple Trees
Published Date: 09/09/2017 (Wednesday)
Rape of Swiss woman in N’Eliya Women shouldn’t travel alone – John Amaratunga
Published Date: 09/09/2017 (Wednesday)
People’s turn to punish the liars and thieves!
Published Date: 09/09/2017 (Wednesday)
President’s life in danger – MA
Published Date: 09/09/2017 (Wednesday)
UN child rights committee to review SL
Published Date: 09/09/2017 (Wednesday)
Lots of talk but little progress in Sri Lanka over journalist murders
Published Date: 09/09/2017 (Wednesday)
Canada, UNFPA to address sexual, gender-based violence in Sri Lanka
Published Date: 09/09/2017 (Wednesday)
Sending LTTE/Prabhakaran greeting cards via Fb Court remands duo
Published Date: 09/09/2017 (Tuesday)
Prince Edward chief guest at 70th freedom festival
Published Date: 09/09/2017 (Tuesday)
DKP Dassanayake & 5 others granted bail
Published Date: 09/09/2017 (Tuesday)
No truth in North-East amalgamation - Hakeem
Published Date: 09/09/2017 (Tuesday)
Tamils protest outside Swiss court against case on LTTE supporters
Published Date: 09/09/2017 (Tuesday)
Sri Lanka President eyes another year in office, heads for show down
Published Date: 09/09/2017 (Tuesday)
Kono seeks to boost Indian Ocean relations
Published Date: 09/09/2017 (Monday)
Choose democracy over dictatorship- EC Chairman Mahinda Deshapriya
Published Date: 09/09/2017 (Sunday)
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
<<<Jan - 2018>>>
SunMonTueWedThuFriSat
 123456
7
8910
11
12
13
14
1516
17
18
19
20
21
22
23
2425
26
27
28
29
30
31   
 Stand up for Rights and Justice
Tamil men accuse continuing torture in Sri Lanka Take a stand against torture and urge UN Human Rights commission for human rights to investigate
Read more...
Take Action
Urgent: They’re beheading children
Repeal Laws that Entrench Discrimination and Perpetuate Violence
UK: Stop selling arms to Saudi Arabia
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.