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Sri Lanka and China’s alleged debt trap

Construction work around the Hambantota port
(archive photo from 2021)

Sri Lanka is in the midst of the biggest economic crisis in its history. The island nation has more than $50 billion in foreign debt. Inflation is around 60 percent. Over the weekend, insurgents stormed the presidential palace. This Tuesday, President Gotabaya Rajapaksa and Prime Minister Ranil Wickremesinghe and his government team plan to resign unanimously.

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