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China-backed Projects Testament To Sri Lanka's Mismanagement

Summary by Ground News

Sri Lanka is in the grip of its worst financial crisis since independence from Britain in 1948. The South Asian island nation borrowed heavily to plug years of budget shortfalls and trade deficits. It squandered huge sums on ill-considered infrastructure projects that have further drained public finances. Many of the projects that helped fuel the crisis now gather dust in Hambantota district.

3 months ago·Sri Lanka

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sri lanka: China-backed projects testament to Sri Lanka's mismanagement

An airport without planes, a revolving restaurant with no diners, a debt-laden seaport -- Sri Lanka's economic crisis has been exacerbated by Chinese-funded projects that stand as neglected monuments to government extravagance.

3 months ago·Mumbai, India

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China-backed Projects Testament to Sri Lanka's Mismanagement

Prime Minister Mahinda Rajapaksa, who commissioned many of the projects, announced his resignation Monday, the same day the anti-government protests turned violent

3 months ago·India

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China-Backed Projects Testament To Sri Lanka's Mismanagement

An airport without planes, a revolving restaurant with no diners, a debt-laden seaport -- Sri Lanka's economic crisis has been exacerbated by Chinese-funded projects that stand as neglected monuments to government extravagance.

3 months ago·New Delhi, India

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China-backed projects testament to Sri Lanka's mismanagement

For many Sri Lankans, the largely unused infrastructure projects have become potent symbols of the Rajapaksa clan's mismanagement.

3 months ago·South Africa

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China-backed Projects Testament To Sri Lanka's Mismanagement

An airport without planes, a revolving restaurant with no diners, a debt-laden seaport -- Sri Lanka's economic crisis has been exacerbated by Chinese-funded projects that stand as neglected monuments to government extravagance.

3 months ago·New York, United States

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China-backed projects testament to Sri Lanka's mismanagement

China is the government's biggest bilateral lender and owns at least 10 percent of its $51 billion external debt

3 months ago·Kampala, Uganda

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