Hi friends, greetings and greetings to all of you, how are you friends of the Sri Lankan steem community, hopefully you will always be healthy and stay excited.
Alright for my post today, I want to write some information about Sri Lanka which is currently hit by a very bad economy, so that this South Asian country has difficulty paying debts and asks K for help to restructure its debt payments as part of assistance to This country is currently hit by a very bad economy, this was stated by the president of Sri Lanka Gotabaya Rajapaksa in a meeting with the Chinese foreign prime minister Wang Yi on last Sunday.
In the last few decades, the Chinese state has provided assistance to Sri Lanka by lending 5 billion USD including in building many projects such as roads, ports and airports. But critics say that the money is used in places and things. unnecessary with very low returns
In this case, the Sri Lankan president would be relieved if attention would be paid to the restructuring of debt payments as a solution in dealing with the economic crisis that hit Sri Lanka during this pandemic. Thus, one of the statements from China is to provide one of the conditions, namely concessions in its exports to Sri Lanka.
China is one of the countries that provided the most assistance for the fourth phase to Sri Lanka, behind international financial markets in the Asian Development Bank and Japan.
Sri Lanka is one of the countries that has received soft loans from China in very large amounts so that currently it is already hit by foreign exchange which has made the country increasingly squeezed by the economy, and according to some analyzes this will actually push it to the verge of default.
Sri Lanka Pays Debt with Tea
For the payment of oil imports from Iran, Sri Lanka plans to pay by using tea, Ramesh Pathirana has said that Sri Lanka can send tea worth 5 million dollars to Iran every month to reduce the amount of debt.
Currently Sri lanka is experiencing a very severe foreign exchange, caused by the loss of income from tourists during this pandemic
According to Pathirana, this type of debt payment will not violate sanctions from the United Nations, because tea is one type of food on humanitarian grounds.
That's all friends for information about the country of Sri Lanka which is being hit by the economic crisis, and hopefully this will be resolved well soon, hopefully the country of Sri Lanka will be able to return to being free from debt bondage,
thank you
WAS HAPPY
@ustazkarim