Sri Lanka faces futher debt as China pursues One Belt, One Road project
Issued on: Modified:
Opinion is divided for now about whether or not China's one-trillion dollar economic corridor project known as One Belt, One Road will be a plus for the countries it passes through, as Rosslyn Hyams reports.
In the meantime, Sri Lanka which has been trying to recover economically, politically and socially from its drawn-out, three-decade-long civil war, owes China billions of dollars.
The International Monetary fund chief Christine Lagarde has alerted China and countries potentially benefitting from the Chinese One Belt infrastructure development, to possible increased debt in the process.
Spotlight on Asia considers why some countries may be more vulnerable to such unwanted possible side-effects of China's plan to harness the region's economic potential.