In November 2023, Sri Lanka reached an agreement with China – its largest lender – to restructure US$4.2 billion of debt. Dissanayake had visited Delhi last month ahead of his China trip ...

Sri Lanka and China have taken yet another major step towards economic cooperation. In a landmark deal, Sri Lanka has secured ...

In a significant boost to economic ties, Sri Lanka has secured a landmark $3.7 billion foreign direct investment from China's Sinopec, marking a pivotal moment in the island nation's recovery efforts.

China committed to assisting with Sri Lanka’s debt restructuring and pledged to encourage investments in logistics, green development, and digital transformation. The two sides agreed to enhance ...

Sri Lanka announced its first sovereign default of its debt of about USD 46.9 billion, over 50 per cent owed to China.The Island nation managed to tide over the crisis with USD 4 billion in ...

it is important to note that statistic showed that Chinese loans account for only approximately 10 percent of all loans owed by Sri Lanka. A significant proportion of Sri Lanka's debt is owed to ...

Dealing with debt will be high on the agenda – but it is investment rather than loans from China that Sri Lanka will need to prioritize. Dissanayake’s election in September 2024 was an ...

The leaders of Sri Lanka ... to China, the South Asian country handed the management of its key port over to Beijing with a 99-year lease. The case is widely viewed as an example of "debt-trap ...

Dissanayake came to power in September and consolidated his power after his party won a landslide in snap parliamentary polls in November.

Sri Lanka's foreign minister said on Wednesday that the South Asian island nation had signed an agreement with Chinese state ...

Sri Lanka’s economic crisis has deepened its reliance on Chinese investments, with Beijing accounting for over 20% of its external debt in 2022. China's financial leverage is evident in its ...